Law:

Section:

Section 214 of the Income-tax Act, 1961 - Advance tax - Interest payable to assessee - Whether assessee was entitled to interest on amount found refundable to it as a result of order in revision passed by Commissioner - Held, no Facts The Tribunal held that the assessee was entitled to interest on amount found refundable to it as a result of the order in revision passed by the Commissioner. On reference by the revenue: Held In view of the decision of the Full Bench in CIT v. Carona Sahu Co. Ltd. [1984] 146 ITR 452 (Bom.), the order of the Tribunal was to be reversed. Case referred to CIT v. Carona Sahu Co. Ltd. [1984] 146 ITR 452 (Bom.)(FB). G.S. Jetley, Mrs. M. Singh and K.C. Sidhwa for the Applicant. Sunil Mandloi, Dinesh Vyas, Subhash Shetty and Prem Tripathi for the…

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