https://www.taxtmi.com/caselaws?id=60483 The Appellate Tribunal upheld the Commissioner of Income-tax (Appeals) order, dismissing the Revenue's appeal. The Tribunal found that the assessee did not under-estimate advance tax payable, as the reduced payment in the first two instalments did not constitute underestimation under section 216 of the Income-tax Act, 1961. The Tribunal emphasized that interest is charged for underestimating advance tax and not for mere reduced payments. As the assessee met statutory requirements, no interest under section 216 was warranted, leading to the dismissal of the Revenue's appeal. en-us Wed, 17 Jun 1992 00:00:00 +0530 Wed, 05 Jan 2011 15:27:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60483 The Appellate Tribunal upheld the Commissioner of Income-tax (Appeals) order, dismissing the Revenue's appeal. The Tribunal found that the assessee did not under-estimate advance tax payable, as the reduced payment in the first two instalments did not constitute underestimation under section 216 of the Income-tax Act, 1961. The Tribunal emphasized that interest is charged for underestimating advance tax and not for mere reduced payments. As the assessee met statutory requirements, no interest under section 216 was warranted, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Wed, 17 Jun 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60483