TMI Blog2014 (11) TMI 809X X X X Extracts X X X X X X X X Extracts X X X X ..... ld that after adjustment of advance tax at the time of regular assessment, if some balance remains to the credit of the assessee, that balance is treated as excess amount of advance tax which has to be refunded with interest u/s 214 up to the date of regular assessment - interest is admissible to the assessee up to the date of regular assessment u/s 214 - the assessee shall be entitled to interest ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4 while giving appeal effect to the CIT(A) order? 2. The Assessing Officer while giving appeal effect to the CIT(A) s order did not grant interest u/s 214 of the Act. On appeal, the CIT(A) directed the A.O to grant interest u/s. 214 upto the date of CIT(A) s order. The revenue appealed the same before the Tribunal and the Tribunal relying on the Full Bench decision of this Court in the case of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 216 ITR 759 as well as a decision of this Court in the case of Commissioner of Income Tax vs. Mihir Textiles Ltd reported in [2000] 243 616 and submitted that the issue involved in the present reference is squarely governed by the said decisions where the Apex Court has taken a view that the assessee shall be entitled to interest on refund amounts up to the date of regular assessment. 4. The is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ourt in the case of Modi Industries (supra) observed that interest is admissible to the assessee up to the date of regular assessment under section 214. 5. Having heard Shri Bhatt, learned Counsel appearing on behalf of the revenue and the question posed for consideration by us reproduced hereinabove and considering the decision of the Honble the Supreme Court in the case of Modi Industries(Sup ..... X X X X Extracts X X X X X X X X Extracts X X X X
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