1983 (10) TMI 45

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..... under s. 256(1) of the Income-tax Act, 1961, reads thus : "Whether, on the facts and in the circumstances of the case, and having regard to the provision of section 214 of the Act, the interest under section 214 is allowable on the excess amount of advance tax paid determined to be refundable on regular assessment or on any subsequent revision of the assessment on the basis of the appellate ord .....

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..... gular assessment as modified in any appeal and directed the ITO to consider the issue afresh according to law. The Revenue appealed to the Tribunal. The Tribunal dismissed the appeal holding that the appeal procedure was an integral part of the assessment procedure because the finality of the liabilities of the assessee was determined by the appellate authorities and every order which modified an .....

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..... e order of regular assessment at any given point of time passed as a result of appellate or revisional proceedings. Consequently, the Central Government is liable to pay to the assessee interest on the amount by which the advance tax paid by him during any financial year exceeds the amount of tax determined upon such first order of regular assessment from 1st April next following the said financia .....

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