https://www.taxtmi.com/caselaws?id=27699 The court interpreted "regular assessment" in section 214(1) of the Income-tax Act, 1961, to include both initial and revised assessments. It held that interest on excess advance tax should be paid up to the date of the revised assessment, emphasizing the balance of obligations between the assessee and the Central Government. The court clarified the scope of sections 214, 215, and 244, affirming the obligation to pay interest until the revised assessment. Consequently, the court ruled in favor of the petitioner, directing the Income-tax Officer to pay interest on the refunded amount in line with section 214(1) until the revised assessments. en-us Wed, 29 Aug 1984 00:00:00 +0530 Sun, 02 May 2010 23:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27699 The court interpreted "regular assessment" in section 214(1) of the Income-tax Act, 1961, to include both initial and revised assessments. It held that interest on excess advance tax should be paid up to the date of the revised assessment, emphasizing the balance of obligations between the assessee and the Central Government. The court clarified the scope of sections 214, 215, and 244, affirming the obligation to pay interest until the revised assessment. Consequently, the court ruled in favor of the petitioner, directing the Income-tax Officer to pay interest on the refunded amount in line with section 214(1) until the revised assessments. Case-Laws Income Tax Wed, 29 Aug 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27699