https://www.taxtmi.com/caselaws?id=253170 For interest under Section 234C of the Income-tax Act, payment by cheque is treated as made on the date the cheque is delivered or presented, provided it is not dishonoured and is ultimately encashed. The Court applied the settled principle that a cheque is a conditional payment which, on clearance, relates back to the date of receipt. Accordingly, the relevant date for computing advance tax interest is the date of presentation, not the date of encashment, and no interest was payable on the footing that payment arose only on clearance. en-us Tue, 11 Nov 2014 00:00:00 +0530 Mon, 17 Nov 2014 06:15:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253170 For interest under Section 234C of the Income-tax Act, payment by cheque is treated as made on the date the cheque is delivered or presented, provided it is not dishonoured and is ultimately encashed. The Court applied the settled principle that a cheque is a conditional payment which, on clearance, relates back to the date of receipt. Accordingly, the relevant date for computing advance tax interest is the date of presentation, not the date of encashment, and no interest was payable on the footing that payment arose only on clearance. Case-Laws Income Tax Tue, 11 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253170