1990 (1) TMI 2 - HC - Income Tax

Summary

The High Court of Calcutta addressed two questions of law regarding interest payment to the assessee under section 214 of the Income-tax Act, 1961. The court ruled that rectification proceedings do not entitle the assessee to interest up to the date of giving effect to the appellate order. The definition of "regular assessment" under section 2(40) does not include assessments made to implement appellate orders. The first question was answered in the negative, favoring the Revenue. The second question was not addressed. No costs were awarded.