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HomeDirect TaxAdvance Tax Paid on Due Date via Net Banking Can’t Attract Interest...

Advance Tax Paid on Due Date via Net Banking Can’t Attract Interest for System Delay: ITAT

Direct Tax

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By Mariya Paliwala
Advance Tax Paid on Due Date via Net Banking Can’t Attract Interest for System Delay: ITAT

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The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has ruled that interest under Section 234C of the Income Tax Act cannot be levied where advance tax is paid through net banking on the statutory due date, even if the challan is generated the next day due to technical or banking system delays.  The…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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