Modi Industries Ltd. Etc. Etc. vs Commissioner Of Income Tax

Authority: Supreme Court Date: 1995-09-15 AY: 1960-61, 1961-62, 1962-63, 1963-64, 1964-65, 1965-66, 1966-67, 1967-68, 1968-69, 1969-70, 1970-71, 1971-72, 1972-73, 1973-74, 1974-75, 1975-76, 1976-77, 1977-78 Section: 214 Acts: Income Tax Act 1961, Indian Income Tax Act 1922 Result: Revenue Citation: (1995) 128 CTR (SC) 361 : (1995) 216 ITR 759 (SC) : (1995) 82 TAXMAN 377 (SC) Justices: B.P. Jeevan Reddy, Suhas C. Sen & S.B. Majmudar, JJ. Appeal No: Civil Appeal Nos. 928 of 1980, 5550-51 of 1990, 1395 of 1974 & 4581 of 1990
Whether interest under section 214 on excess advance tax is payable only up to the date of the original assessment or up to the date of the revised assessment made pursuant to an appellate/revisional order --- Held: Interest is payable only up to the date of the original/first assessment.

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