https://www.taxtmi.com/caselaws?id=17272 Interest under section 215 could not be imposed on a reassessment under section 147 where the original regular assessment showed advance tax paid exceeding the assessed tax, because the statutory foundation for interest under section 215(1) was absent at that stage. The Calcutta HC treated the first assessment under section 143 or section 144 as the relevant regular assessment for this purpose, and held that a later reassessment does not retrospectively create liability to interest. The issue was answered in favour of the assessee and against the Revenue. en-us Wed, 18 Feb 1998 00:00:00 +0530 Mon, 21 Sep 2009 12:43:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17272 Interest under section 215 could not be imposed on a reassessment under section 147 where the original regular assessment showed advance tax paid exceeding the assessed tax, because the statutory foundation for interest under section 215(1) was absent at that stage. The Calcutta HC treated the first assessment under section 143 or section 144 as the relevant regular assessment for this purpose, and held that a later reassessment does not retrospectively create liability to interest. The issue was answered in favour of the assessee and against the Revenue. Case-Laws Income Tax Wed, 18 Feb 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17272