https://www.taxtmi.com/caselaws?id=25661 The High Court ruled in favor of the assessee, confirming their entitlement to interest under section 214 of the Income-tax Act, 1961. The court held that the Rs. 11 lakhs paid by the assessee, as directed by the Supreme Court, should be considered as advance tax payment, making them eligible for interest from April 1, 1966. The court rejected the Revenue's argument and upheld the Tribunal's decision, emphasizing the consistent nature of the deposit for all purposes. Ultimately, the High Court decided in favor of the assessee without awarding any costs. en-us Fri, 17 Oct 1986 00:00:00 +0530 Sat, 30 Jan 2010 10:47:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25661 The High Court ruled in favor of the assessee, confirming their entitlement to interest under section 214 of the Income-tax Act, 1961. The court held that the Rs. 11 lakhs paid by the assessee, as directed by the Supreme Court, should be considered as advance tax payment, making them eligible for interest from April 1, 1966. The court rejected the Revenue's argument and upheld the Tribunal's decision, emphasizing the consistent nature of the deposit for all purposes. Ultimately, the High Court decided in favor of the assessee without awarding any costs. Case-Laws Income Tax Fri, 17 Oct 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25661