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Interest payable by assessee in case of under-estimate, etc.

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..... ance tax payable by him and thereby reduced the amount payable in either of the first two instalments ; or] (b) under section 213 wrongly deferred the payment of advance tax on a part of his income ; he may direct that the assessee shall pay simple interest at 4 [fifteen] per cent per annum- (i) in the case referred to in clause (a), for the period during which the payment was deficien .....

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..... 3. Substituted for sub-section (1) or sub-section (2) or sub-section (3) or sub-section (3A) of section 212 by the Finance Act, 1978, w.e.f. 1-6-1978. 4 . Substituted for twelve by the Taxation Laws (Amendment) Act, 1984, w.e.f. 1-10-1984. Earlier, twelve was substituted for nine by the Finance Act, 1972, w.e.f. 1-4-1972, nine was substituted for six by the Taxation Laws (Amend .....

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