2001 (8) TMI 24

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.....-We have heard Mr. B.B. Naik, learned standing counsel for the Revenue, and Mr. Manish J. Shah for Mr. J.P. Shah, learned counsel for the assessee. In this reference, two questions are referred at the instance of the Revenue and one question is referred at the instance of the assessee. The first question referred at the instance of the Revenue is in respect of the assessment years 1973-74 t....

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....he assessee and against the Revenue. The second question referred at the instance of the Revenue in respect of the assessment years 1977-78 and 1978-79 is as under: "Whether the assessee is entitled to interest under section 214 on advance tax payments?" Learned counsel for the parties agree that the question is covered by the decision of the apex court in Modi Industries Ltd. v. CIT [199....