https://www.taxtmi.com/caselaws?id=37006 The court held that petitioners were not entitled to interest under Section 214(1) of the Income-tax Act on the amount refunded due to a recomputation following directions from the Appellate Assistant Commissioner. The term "regular assessment" in Section 214 was interpreted to refer only to the original regular assessment, not revised assessments. Interest on refunds was limited to the original regular assessment amount, excluding revised assessments. The court emphasized that the legislative intent confined interest liability to original regular assessments, dismissing the writ petitions without costs. en-us Fri, 27 Jul 1979 00:00:00 +0530 Thu, 25 Mar 2010 18:30:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37006 The court held that petitioners were not entitled to interest under Section 214(1) of the Income-tax Act on the amount refunded due to a recomputation following directions from the Appellate Assistant Commissioner. The term "regular assessment" in Section 214 was interpreted to refer only to the original regular assessment, not revised assessments. Interest on refunds was limited to the original regular assessment amount, excluding revised assessments. The court emphasized that the legislative intent confined interest liability to original regular assessments, dismissing the writ petitions without costs. Case-Laws Income Tax Fri, 27 Jul 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37006