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2023 (7) TMI 857 - ITAT MUMBAILevy of interest u/s 234C - intimation issued u/s 143(1) - HELD THAT:- As the tax payable by the assessee on the long-term capital gains earned from the sale of shares on 01/03/2017, i.e. at the rate of 20%, was duly paid by the assessee on the next due date of advance tax, which in the facts and circumstances of the present case was 15/03/2017. Thus, we are of the considered view that in terms of the 1st proviso to section 234C(1), interest u/s 234C of the Act was wrongly levied vide intimation issued u/s 143(1). We direct the AO to delete the interest levied u/s 234C - Ground raised in assessee’s appeal is allowed.
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