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2004 (9) TMI 78 - HC - Income TaxWhether interest u/s 214 could be denied to the assessee-corporation who had failed to pay the instalment of advance tax in accordance with the date specified u/s 211 – held that the Legislature intended to provide that the dates given in section 210(1) were not mandatory as long as two conditions were satisfied, namely, that the entire amount of advance tax was paid up and it was paid up before the end of the financial year. Therefore, there is no controversy on the first question raised by learned counsel for the petitioner that interest on the second instalment at the rate of 12 %, is payable - There is considerable force in the second submission made by petitioner that the amount of interest has been withheld by the respondent-Department for a long period and the petitioner was illegally deprived of the use of aforementioned amount - petition succeeds – payment of interest cannot be denied
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