2001 (10) TMI 71 - HC - Income Tax

Summary

The High Court of Madras considered whether the assessee is entitled to interest under section 18 of the Surtax Act read with section 244(1A) of the Income-tax Act, 1961, on overpayment of self-assessment tax. The court ruled in favor of the assessee, citing a Supreme Court case that supports payment of interest on excess advance tax paid.