As per case facts, an assessee paid advance tax, and the initial assessment indicated an excess payment. After an appeal, the assessment was revised, leading to an even larger refund. ... This raised a conflict among High Courts regarding the interpretation of "regular assessment" in the Income Tax Act, affecting the calculation of interest payable on excess advance tax. The central issue was whether "regular assessment" refers to the initial assessment or the final assessment post-appeal/revision, and how this impacts the amount and period for interest payment. Finally, the Supreme Court clarified that "regular assessment" in Section 214(1) means the first or original assessment made under Sections 143 or 144. Interest on excess advance tax is payable from the first day of the relevant assessment year until the date of this initial regular assessment. Subsequent appellate or revisional orders do not extend this period for Section 214. For refunds arising from orders after a specific date, Section 244(1A) governs interest from the payment date until the refund.