https://www.taxtmi.com/caselaws?id=208193 The High Court upheld the decision in favor of the Revenue, emphasizing the mandatory nature of interest under Section 234C of the Income Tax Act. The Court ruled that the appellant's payment of advance tax based on tentative estimates did not exempt them from the interest charge, as advance tax must be paid promptly to avoid delays in tax collection. The judgment highlighted the compensatory nature of the interest and the importance of adhering to the provisions of Section 234C without exceptions, ultimately dismissing the appellant's appeal. en-us Wed, 30 Nov 2011 00:00:00 +0530 Fri, 28 Jun 2013 12:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208193 The High Court upheld the decision in favor of the Revenue, emphasizing the mandatory nature of interest under Section 234C of the Income Tax Act. The Court ruled that the appellant's payment of advance tax based on tentative estimates did not exempt them from the interest charge, as advance tax must be paid promptly to avoid delays in tax collection. The judgment highlighted the compensatory nature of the interest and the importance of adhering to the provisions of Section 234C without exceptions, ultimately dismissing the appellant's appeal. Case-Laws Income Tax Wed, 30 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208193