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Issues:
1. Entitlement to interest under sections 214 and 244 of the Income-tax Act for a specific assessment year. 2. Interpretation of "regular assessment" under section 214 of the Act. 3. Conflict of views among different High Courts on the issue. 4. Applicability and binding nature of previous judgments by the High Court. Detailed Analysis: 1. The writ petition was filed by a public limited company seeking a writ of mandamus to cancel the order passed by the Commissioner of Income-tax and the Income-tax Officer, which refused to pay full interest under sections 214 and 244 of the Income-tax Act for the assessment year 1982-83. The petitioner claimed entitlement to interest on the refundable amount based on a previous decision of the High Court, emphasizing that interest should be paid until the Income-tax Officer gives effect to the appellate authority's order. 2. The petitioner argued that the term "regular assessment" under section 214 should include assessments made to give effect to appellate orders. Referring to a previous case involving Chloride India Ltd., it was contended that interest should be paid on the excess amount of advance tax paid over the tax determined on regular assessment, including assessments made by the Income-tax Officer pursuant to directions from the Appellate Assistant Commissioner. 3. The respondent authorities highlighted conflicting views among different High Courts on the issue and suggested that the petitioner should approach the Supreme Court under Article 32 of the Constitution to resolve the dispute. However, the court noted a clear and binding decision by the High Court on the matter, which was affirmed by a Division Bench, making it applicable to the present case. 4. The court, after considering the submissions of both parties, upheld the petitioner's claim for interest under sections 214 and 244 of the Income-tax Act for the specific assessment year. It emphasized the binding nature of the previous judgment and ruled in favor of the petitioner, issuing a writ of mandamus to revoke the orders and directing the respondents to pay the interest on the refundable amount within a specified period, without imposing any costs. In conclusion, the High Court of Calcutta, in a judgment delivered by Justice Susanta Chatterji, allowed the writ petition filed by the company, granting the relief sought regarding the payment of interest under the Income-tax Act for a specific assessment year. The court's decision was based on the interpretation of the term "regular assessment," previous judgments by the High Court, and the binding nature of those decisions on the parties involved.
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