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2015 (9) TMI 904 - AT - Income TaxInterest u/s 234C - Date of presentation of cheque - whether the interest charged u/s 234C is to be computed from the date of presentation/ tendering of cheque of tax payment into bank or from the date of clearance from the Bank Account of the assessee? - Held that:- Cheques issued have not been dishonored and so respectfully following the judgment of CIT Vs. REPCO Home Finance Ltd (2014 (11) TMI 487 - MADRAS HIGH COURT ) and DIT( Exemption) v. Raunaq Education Foundation [2013 (1) TMI 239 - SUPREME COURT ] , we hold that interest u/s 234C of the Act should be computed from the date of presentation of the cheque of tax payment. We direct the Assessing Officer to compute the interest u/s 234C of the Act, accordingly - Decided in favour of assessee.
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