https://www.taxtmi.com/caselaws?id=36530 The court ruled in favor of the assessee, determining their eligibility for interest under section 214 on the refunded amount. It clarified the interpretation of "regular assessment" under section 2(40) and its impact on interest calculation, emphasizing that both the original assessment and the subsequent order qualified as regular assessments. The court highlighted the importance of reading section 214(2) in conjunction with section 219 for interest on refunds, extending the interest period up to the date of refund. The assessee was granted interest from 1st April 1973 to 21st January 1976, with costs awarded. en-us Mon, 21 Jan 1980 00:00:00 +0530 Tue, 23 Mar 2010 10:33:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36530 The court ruled in favor of the assessee, determining their eligibility for interest under section 214 on the refunded amount. It clarified the interpretation of "regular assessment" under section 2(40) and its impact on interest calculation, emphasizing that both the original assessment and the subsequent order qualified as regular assessments. The court highlighted the importance of reading section 214(2) in conjunction with section 219 for interest on refunds, extending the interest period up to the date of refund. The assessee was granted interest from 1st April 1973 to 21st January 1976, with costs awarded. Case-Laws Income Tax Mon, 21 Jan 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36530