Interest payable by assessee when no estimate made

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.... to in that clause or the estimate in lieu of such statement referred to in sub-section (2) of that section; or (b) that any such person as is referred to in clause (b) of sub-section (1) of section 209A has not sent the estimate referred to in that clause,] simple interest at the rate of 4[fifteen] per cent per annum from the 1st day of April next following the financial year in which the adva....

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....te of the regular assessment shall be payable by the assessee upon the amount by which the advance tax paid by him falls short of the assessed tax as defined in sub-section (5) of section 215.] (2) The provisions of sub-sections (2), (3) and (4) of section 215 shall apply to interest payable under this section as they apply to interest payable under that section.     *************** ....

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.... 2. Substituted vide Section 29 of the Finance Act, 1978 w.e.f. 01-06-1978 before it was read as, "the Income-tax Officer finds that any such person as is referred to in sub-section (3) of section 212 has not sent the estimate referred to therein" 3. Substituted vide Section 2 of the Direct Tax Laws (Amendment) Act, 1987 w.e.f. 01-04-1988 before it was read as, "....