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TMI Blog1983 (11) TMI 7X X X X Extracts X X X X X X X X Extracts X X X X ..... en referred by the Income-tax Appellate Tribunal, Bangalore Bench, under section 256(1) of the Income-tax Act, 1961, at the instance of the Revenue, for our opinion : "1. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in allowing interest under section 214 of the Income-tax Act, 1961 ? 2. Whether, on the facts and in the circumstances of the case, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under section 139(8) in the assessment for the assessment year 1974-75. Towards the advance tax due for the assessment year 1974-75, the assessee had remitted by a cheque, a sum of Rs. 9,93,939 on March 13, 1974, which was credited to Government On March 16, 1974. While computing the interest under section 139(8), the Income-tax Officer did not give deduction to the advance tax paid towards the la ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ess tax paid under section 214. The Appellate Assistant Commissioner upheld the claim of the assessee both as regards interest levied under section 139(8) as well as claim for interest under section 214. On appeal by the Department, the Tribunal agreed with the view taken by the Appellate Assistant Commissioner on both the issues and dismissed the appeal. Hence, this reference at the instance of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . It follows, as a consequence, that the assessee would be entitled to interest under section 214 on the excess of the tax paid as determined on the regular assessment. Hence, the first question is also answered in the affirmative and against the Revenue. As regards question No. 2, in view of the decision of this court in National Products' case [1977] 108 ITR 935, the appeal challenging the lev ..... X X X X Extracts X X X X X X X X Extracts X X X X
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