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TMI Blog2000 (12) TMI 92X X X X Extracts X X X X X X X X Extracts X X X X ..... e, the following question has been referred by the Income-tax Appellate Tribunal, Delhi Bench-B (in short "the Tribunal"), under section 256(1) of the Income-tax Act, 1961 (in short "the Act"), for the opinion of this court : "Whether, on facts and in the circumstances of the case, the Tribunal is correct in law in holding that interest is payable under section 214 on the payment of Rs. 1,36 lakh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Assistant Commissioner allowed the claim. The matter was carried in further appeal by the Revenue before the Tribunal. The Tribunal affirmed the Appellate Assistant Commissioner's order and dismissed the Revenue's appeal. Though the Tribunal accepted the Revenue's stand that the circulars of the Board dated June 1, 1965, and July 23, 1974, relied upon by the Appellate Assistant Commissioner, were ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uring any financial year in which they are payable under sections 207 to 213 exceeds the amount of the tax determined on regular assessment, from the 1st day of 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 w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... payment of tax) of Chapter XVII of the Act deal with "collection and recovery of tax". As was observed by the Full Bench of the Andhra Pradesh High Court in Bakelite Hylam Limited v. CIT [1993] 202 ITR 145, sections 207 to 213 provide for advance payment of tax during the financial year, in all its facets, for the computation of the tax so payable, for the instalments in which such tax is payable, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lity to pay advance tax and at the relevant time referred to payment during the financial year, as noted above. We are in agreement with the view expressed by the Full Bench of the Andhra Pradesh High Court in Bakelite Hylam's case [1993] 202 ITR 145. Therefore, our answer to the question referred is in the affirmative, in favour of the assessee and against the Revenue. The reference stands disp ..... X X X X Extracts X X X X X X X X Extracts X X X X
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