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TMI Blog1986 (10) TMI 15X X X X Extracts X X X X X X X X Extracts X X X X ..... the Act "), for answering the following question of law: " Whether, on the facts and in the circumstances of the case, the Tribunal is right in holding that the assessee was entitled to interest under section 214 of the Income-tax Act, 1961, treating the payment of Rs. 11 lakhs paid by the assessee after the financial year had ended as advance tax paid within the meaning of sections 207 to 213 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e for the remaining amount which was done by the assessee. The writ petition was ultimately dismissed by this court and the assessee then went in appeal to the Supreme Court. The Supreme Court by an order dated October 6/8, 1965, permitted the assessee to pay a sum of Rs. 11 lakhs in cash towards the advance tax within the time specified and to furnish a bank guarantee for the remaining amount dem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ffect from April 1, 1966, and not with effect from April 1, 1965, as claimed by him under section 214 of the Act. This conclusion was reached on the ground that the amount of Rs. 11 lakhs paid by the assessee in November, 1965, must be deemed to be a payment towards advance tax by virtue of the aforesaid stay order of the Supreme Court in accordance with the provisions of sections 207 to 213 of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to be a defaulter for non-payment of this amount of advance tax within the relevant financial year for this very reason. There is no doubt that the nature of the amount in deposit must be the same for all purposes and not merely for the purpose of not treating the assessee to be a defaulter. We are, therefore, unable to accept the contention of learned counsel for the Revenue that the amount of Rs ..... X X X X Extracts X X X X X X X X Extracts X X X X
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