https://www.taxtmi.com/caselaws?id=28309 Section 214 of the Income-tax Act, 1961 was construed to mean that interest on refundable excess advance tax is computed with reference to the first order of regular assessment made by the assessing authority. A later assessment order passed to give effect to appellate or revisional proceedings does not replace that original regular assessment for this purpose. The provision was read as fixing interest entitlement by reference to the initial assessment order, not the last operative order after appeal. The result is that interest under section 214 is confined to the excess advance tax refundable on the first regular assessment only. en-us Fri, 21 Oct 1983 00:00:00 +0530 Sat, 20 Feb 2010 12:44:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28309 Section 214 of the Income-tax Act, 1961 was construed to mean that interest on refundable excess advance tax is computed with reference to the first order of regular assessment made by the assessing authority. A later assessment order passed to give effect to appellate or revisional proceedings does not replace that original regular assessment for this purpose. The provision was read as fixing interest entitlement by reference to the initial assessment order, not the last operative order after appeal. The result is that interest under section 214 is confined to the excess advance tax refundable on the first regular assessment only. Case-Laws Income Tax Fri, 21 Oct 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28309