https://www.taxtmi.com/caselaws?id=28308 The court held that "regular assessment" in s. 214(1) of the I.T. Act, 1961, refers to the first order of regular assessment passed by the ITO. Consequently, the Central Government is liable to pay interest on excess advance tax from 1st April following the financial year to the date of such first order. The court ruled in favor of the Revenue, directing the assessee to bear the costs of the reference. en-us Fri, 21 Oct 1983 00:00:00 +0530 Sat, 20 Feb 2010 12:41:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28308 The court held that "regular assessment" in s. 214(1) of the I.T. Act, 1961, refers to the first order of regular assessment passed by the ITO. Consequently, the Central Government is liable to pay interest on excess advance tax from 1st April following the financial year to the date of such first order. The court ruled in favor of the Revenue, directing the assessee to bear the costs of the reference. Case-Laws Income Tax Fri, 21 Oct 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28308