https://www.taxtmi.com/caselaws?id=61873 The assessee was entitled to interest under section 214 on the excess payment of advance tax. The Tribunal ruled in favor of the assessee, holding that interest should be granted as the tax determined on regular assessment exceeded the advance tax paid. Additionally, the Tribunal determined that the amended provisions of section 214(1A) should apply to the assessment year in question, emphasizing that the law as it stood at the time of the original assessment order should govern. The Tribunal also clarified that the levy or grant of interest is not a substantive provision and that rectification of assessment under section 154 should relate back to the date of the assessment order. en-us Wed, 04 Jan 1995 00:00:00 +0530 Sat, 15 Jan 2011 17:33:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61873 The assessee was entitled to interest under section 214 on the excess payment of advance tax. The Tribunal ruled in favor of the assessee, holding that interest should be granted as the tax determined on regular assessment exceeded the advance tax paid. Additionally, the Tribunal determined that the amended provisions of section 214(1A) should apply to the assessment year in question, emphasizing that the law as it stood at the time of the original assessment order should govern. The Tribunal also clarified that the levy or grant of interest is not a substantive provision and that rectification of assessment under section 154 should relate back to the date of the assessment order. Case-Laws Income Tax Wed, 04 Jan 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61873