Taxpayer's Genuine Income Estimation Affects Interest on Short Advance Tax Payments: Section 215(4) & Rule 40(5) Explained.

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....Interest payable by assessee on short payment of advance tax - The bona-fides of the assessee in estimating his income and paying the advance tax accordingly are relevant factors and if established fall within the ambit of Section 215(4) read with Rule 40(5). - HC....