9911796707
TMI Blog2003 (12) TMI 7X X X X Extracts X X X X X X X X Extracts X X X X ..... erred is "whether the Tribunal is right in holding that the assessee is entitled to interest under section 244(1A) of the Income-tax Act where the refund arises out of the advance tax paid by the assessee beyond the previous year under the first proviso to section 212(3A) of the Income-tax Act?" The assessment year is 1975-76. The assessment of the assessee's income for the assessment year 1975-7 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sum. On the assessee's appeal, the Commissioner directed the payment of interest under section 214, but that order of the Commissioner was set aside by the Tribunal, which upheld the view of the Assessing Officer that interest under section 214 was not payable in respect of the amount of advance tax paid after the closure of the financial year. The Tribunal, however, considered the assessee's ri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... character of advance tax for all times. The amount paid as advance tax is an advance only till the assessment and on assessment, the amount paid becomes the tax that is paid by the assessee. The words "in pursuance of" in the provision do not imply that the payment of the amount should have been made subsequent to the order of assessment. Those words are only meant to clarify that the amount of ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as implying that it is the date of the order of assessment which is to be regarded as the date on which the payment was made as the adjustment made of the advance tax towards the tax assessed would result in the discharge of the liability of the assessee for the payment of the assessed tax and such discharge can only be on account of the assessee having paid the tax. Payment does not necessarily ..... X X X X Extracts X X X X X X X X Extracts X X X X
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