1978 (10) TMI 53

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..... he assessee's claim to allow interest under s. 214 in respect of excess amount of advance-tax determined after giving effect to the order of the Tribunal. The assessee had paid advance-tax amounting to Rs. 22,020 according to the assessee's counsel, though we may point out the AAC has mentioned the figure of such advance-tax paid to be Rs. 17,035. It was further stated by the assessee's counsel th .....

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..... tive submitted that under s. 2(40) of the Income-tax Act regular assessment has been defined as an assessment made under s. 143 or s. 144 and s. 214 also refers to the allowing of interest under s. 214 when advance-tax paid is found to be in excess of the amount of the tax determined on regular assessment. It was contended that the regular assessment, therefore, is the one which is completed by th .....

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..... lar assessment. An order which is made by the ITO to give effect to the order of the AAC is an order of assessment under s. 143. If that is the position. Then, in view of s. 2 (40) of the Act, the regular assessment as contemplated by s. 214(1) should be the assessment made by the ITO if there is no appeal therefrom, but in a case where there is an appeal, the order is passed by the ITO finally is .....

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