Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2005 (8) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2005 (8) TMI 92 - HC - Income TaxInterest under section 216 - assessee has underestimated the advance tax - "Whether, on the facts and in the circumstances of the case, by filing a statement under section 209A, the assessee has underestimated the advance tax payable by him thereby reducing the amount payable in either of the first two instalments and hence liable to pay interest u/s 216?" - Section 216 that provides for interest payable by the assessee in the case of underestimate cannot be invoked where the assessee has acted in conformity with section 209A(4) and sent the estimate to the Assessing Officer of the current income and paid the advance tax on the current income calculated in the manner laid out in section 209 - Where the assessee is not required, as in a case like this, to furnish an estimate for the first and second instalments, as it was already assessed previously, and rather the assessee is required to file a statement under section 209A(1)(a), the question of underestimate for the two instalments under section 216 would not arise.
|