https://www.taxtmi.com/caselaws?id=60464 The Tribunal dismissed the revenue's appeal, upholding the cancellation of interest charged under section 217. It found that the charging of interest was discretionary, and the authorities had the power to reduce or waive such interest. The Tribunal also ruled in favor of the assessee, a statutory body, regarding the obligation to file an estimate for advance tax, considering the exemptions claimed under sections 10(23A) and 11. The Tribunal concluded that the assessee had valid reasons for not filing the estimate, supported by its exempt status and entitlement to exemptions under the relevant sections. en-us Wed, 18 Apr 1984 00:00:00 +0530 Wed, 05 Jan 2011 14:00:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60464 The Tribunal dismissed the revenue's appeal, upholding the cancellation of interest charged under section 217. It found that the charging of interest was discretionary, and the authorities had the power to reduce or waive such interest. The Tribunal also ruled in favor of the assessee, a statutory body, regarding the obligation to file an estimate for advance tax, considering the exemptions claimed under sections 10(23A) and 11. The Tribunal concluded that the assessee had valid reasons for not filing the estimate, supported by its exempt status and entitlement to exemptions under the relevant sections. Case-Laws Income Tax Wed, 18 Apr 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60464