https://www.taxtmi.com/caselaws?id=10636 The Court ruled in favor of the assessee in a case involving the interpretation of interest under sections 214(1) and 214(2) of the Income-tax Act. It held that the amount paid after the due date should be treated as advance tax, entitling the assessee to interest under section 214(1). Additionally, the Court clarified that interest under section 214(2) is payable from the regular assessment to the refund date, contrary to the Revenue's contention. As a result, the Court directed the payment of interest under section 214(2) up to the refund date from the regular assessment in favor of the assessee. en-us Mon, 22 Nov 2004 00:00:00 +0530 Mon, 20 Jul 2009 18:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10636 The Court ruled in favor of the assessee in a case involving the interpretation of interest under sections 214(1) and 214(2) of the Income-tax Act. It held that the amount paid after the due date should be treated as advance tax, entitling the assessee to interest under section 214(1). Additionally, the Court clarified that interest under section 214(2) is payable from the regular assessment to the refund date, contrary to the Revenue's contention. As a result, the Court directed the payment of interest under section 214(2) up to the refund date from the regular assessment in favor of the assessee. Case-Laws Income Tax Mon, 22 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10636