https://www.taxtmi.com/caselaws?id=212849 The Tribunal upheld the CIT (A)'s decision that interest on advance tax payments should be calculated based on the date of presentation of the cheque, not the clearance date. It determined that the date of presentation is crucial for calculating interest under Section 234C, supported by legal precedents. The Tribunal rejected the Revenue's arguments regarding the applicability of government treasury rules and the validity of the CBDT Circular, emphasizing the importance of the date of presentation in determining the date of payment for advance tax purposes. The appeal by the Revenue was dismissed. en-us Fri, 03 Jun 2011 00:00:00 +0530 Fri, 27 Apr 2012 08:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212849 The Tribunal upheld the CIT (A)'s decision that interest on advance tax payments should be calculated based on the date of presentation of the cheque, not the clearance date. It determined that the date of presentation is crucial for calculating interest under Section 234C, supported by legal precedents. The Tribunal rejected the Revenue's arguments regarding the applicability of government treasury rules and the validity of the CBDT Circular, emphasizing the importance of the date of presentation in determining the date of payment for advance tax purposes. The appeal by the Revenue was dismissed. Case-Laws Income Tax Fri, 03 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212849