1979 (9) TMI 101 - AT - Income Tax

Summary

The assessment resulted in a refund of Rs. 17,849, including interest under s. 214. The ITO later withdrew this interest, but the AAC held that the mistake was rectified properly. The ITAT found that interest on excess advance tax payment should have been allowed, citing relevant case law. The appeal was accepted, and the order under s. 154 was set aside.