https://www.taxtmi.com/caselaws?id=57168 Advance tax instalments paid after the prescribed dates, but accepted by the assessing authority as advance tax and credited against the regular assessment, could be treated as payment toward the last instalment falling due subsequently. On that basis, denial of interest on refund under section 214 of the Income-tax Act, 1961 solely because the payments were out of time was not justified. The rectification under section 154 was therefore properly allowed, and the assessee was held entitled to interest on the refund. en-us Mon, 20 Sep 1982 00:00:00 +0530 Wed, 08 Dec 2010 17:22:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57168 Advance tax instalments paid after the prescribed dates, but accepted by the assessing authority as advance tax and credited against the regular assessment, could be treated as payment toward the last instalment falling due subsequently. On that basis, denial of interest on refund under section 214 of the Income-tax Act, 1961 solely because the payments were out of time was not justified. The rectification under section 154 was therefore properly allowed, and the assessee was held entitled to interest on the refund. Case-Laws Income Tax Mon, 20 Sep 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57168