Supreme Court · 1995 INSC 574 · Decided 15 September 1995
Modi Industries LTD., Modinagar ETC. ETC. v. Commissioner of Income Tax, Delhi and ANR. ETC. ETC.
- Court
- Supreme Court of India
- Citation
- 1995 INSC 574 · [1995] SUPP. 3 S.C.R. 642
- Case number
- CIVIL APPEAL No. 928/1980
- Decided
- 15 September 1995
- Bench
- B.P. JEEVAN REDDY, S.C. SEN, S.B. MAJMUDAR (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 18A(5), 2(40), 214
Headnote
Ind.Jan Income Tax Act, 1922/Income Tax Act, 1961: Ss.18A(5)!2(40), 214, 244(1A)-Advance tax-Excess payment of­ Refund-lnterest payable to assessee-Held: interest on excess amount of advance tax is payable to assessee under 1922 Act from date of payment upto regular assessment and under 1961 of April next following D relevant financial year upto regular assessment and not till date of refund-If any tax paid pursuant to an assessment oraer after March 31, 1975 becomes refundable as a result of any appellate or other order passed, interest thereon to be paid under s.244( IA) . 'Regular
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