9911796707
TMI Blog1984 (1) TMI 95X X X X Extracts X X X X X X X X Extracts X X X X ..... -1-1983, passed in appeal No. Commissioner (Appeals)-XI/E/IT/1982-83, for the assessment year 1979-80 is brought in appeal, wrongly directed the ITO to allow interest under section 214 of the Income-tax Act, 1961 ('the Act') in respect of excess payment of advance tax which had been made after the close of the financial year 1978-79. 2. To understand the question some facts must necessarily be s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TO to treat the payment of Rs. 2,02,016 as advance tax for adjustment purposes and cancel the levy of interest under section 139(8). The Commissioner (Appeals) also accepted the contention that the respondent was entitled to interest under section 214 in respect of excess payment. 4. Before proceeding further, we would like to observe that wrong projection from the revenue's ground of appeal is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r itself. He very strongly urged that section 212(3A) in no manner has the effect of diluting the mandatory constraint and conditions of section 214. 6. For the respondent, Shri V.H. Patil pleaded that section 214 should be read in conjunction with section 212(3A) and not separately. 7. After giving our thoughtful moments to the question, we are inclined to agree with the arguments of Shri Tul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... April next following the said financial year to the date of the regular assessment for the assessment year immediately following the said financial year, and where any such instalment is paid after the expiry of the financial year during which it is payable by reason of the provisions of section 213, interest as aforesaid shall also be payable on that instalment from the date of its payment to th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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