Judgment :- A. K. RAJAN, J. The question that has been referred for our consideration is : "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in law in holding that the assessee is entitled to interest under section 18 of the Surtax Act read with section 244(1A) of the Income-tax Act, 1961, on the over payment of the self-assessment tax paid by the assessee ?" For the assessment year 1976-77, the surtax liability was determined at Rs. 56, 00, 940. After giving credit to the pre-assessment tax paid by the assessee, the assessment resulted in a refund of Rs. 3, 40, 366. The Assessing Officer did not allow the assessee interest under section 18 of the Surtax Act read with section 244(1A) of the Income-tax Act, 1961. Hence, an appeal has been filed by the assessee. In the case reported in Modi Industries Ltd. v. CIT, the Supreme Court has held that section 214 provides for payment of interest to an assessee on the excess amount of advance tax paid. After adjustment of advance tax at the time of regular assessment, if some balance remains to the credit of the assessee, that balance is treated as excess amount of advance tax which has to be refunded with interest under section 214. Therefore, this question is answered against the Revenue and in favour of the assessee.