Dismissing the appeal of the revenue the Court held that ; the assessee had advance tax and had credit of tax deducted at source of Rs. 5,12,984, in excess of the tax liability created. Hence, there was no cause for imposition of a liability under S.234B(1) or under S. 234B(3) . The entire tax assessed on regular assessment, for which there was advance tax payment in compliance with sections 208 and 210 , was set aside and the advance tax paid was refunded to the assessee. The Department also had the benefit of advance tax from March 31, 1992 to March 4, 1996, when the refund was made. Hence, there would be no liability on the assessee under S.234B(3) , since there could not be a liability created from April 1, 1992.