https://www.taxtmi.com/caselaws?id=8404 For interest on advance tax under section 18A(5), the expression "regular assessment" refers to the first or original assessment under section 23, because that is the point at which the assessee's liability is crystallised and compensatory interest ceases to be relevant. A later assessment made only to give effect to an appellate order does not shift the relevant date for interest computation. The legislative scheme, including the contrast with section 18A(6) and its express provision for recomputation on appeal, supports that interest calculations ordinarily relate back to the original assessment framework. Accordingly, no interest was payable on the excess advance tax beyond that original assessment date. en-us Thu, 22 Apr 1971 00:00:00 +0530 Sat, 11 Apr 2009 12:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8404 For interest on advance tax under section 18A(5), the expression "regular assessment" refers to the first or original assessment under section 23, because that is the point at which the assessee's liability is crystallised and compensatory interest ceases to be relevant. A later assessment made only to give effect to an appellate order does not shift the relevant date for interest computation. The legislative scheme, including the contrast with section 18A(6) and its express provision for recomputation on appeal, supports that interest calculations ordinarily relate back to the original assessment framework. Accordingly, no interest was payable on the excess advance tax beyond that original assessment date. Case-Laws Income Tax Thu, 22 Apr 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8404