https://www.taxtmi.com/caselaws?id=14521 The High Court of Delhi ruled in favor of the assessee, a private limited company, in a case concerning the interpretation of section 214 of the Income-tax Act, 1961. The court held that interest is payable on the excess amount of advance tax paid during the financial year, even if the instalments were not strictly paid as per section 211. This decision clarified that interest under section 214 is applicable to advance tax paid in excess of the tax liability, emphasizing the comprehensive scope of sections 207 to 213 in relation to advance tax payment. en-us Wed, 06 Dec 2000 00:00:00 +0530 Fri, 17 Jul 2009 10:10:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14521 The High Court of Delhi ruled in favor of the assessee, a private limited company, in a case concerning the interpretation of section 214 of the Income-tax Act, 1961. The court held that interest is payable on the excess amount of advance tax paid during the financial year, even if the instalments were not strictly paid as per section 211. This decision clarified that interest under section 214 is applicable to advance tax paid in excess of the tax liability, emphasizing the comprehensive scope of sections 207 to 213 in relation to advance tax payment. Case-Laws Income Tax Wed, 06 Dec 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14521