https://www.taxtmi.com/caselaws?id=444437 The Tribunal allowed the appellant's appeal, ruling that charging interest under section 234C of the Income Tax Act was not valid. The appellant received an immovable property as a gift in the last quarter and paid more than 90% of the tax payable before the due date of the fourth quarter. The Tribunal found the appellant's argument justifiable, as the advance tax liability could not be estimated without the actual receipt of the gift, and there was no loss of revenue. en-us Fri, 13 Oct 2023 00:00:00 +0530 Mon, 16 Oct 2023 18:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444437 The Tribunal allowed the appellant's appeal, ruling that charging interest under section 234C of the Income Tax Act was not valid. The appellant received an immovable property as a gift in the last quarter and paid more than 90% of the tax payable before the due date of the fourth quarter. The Tribunal found the appellant's argument justifiable, as the advance tax liability could not be estimated without the actual receipt of the gift, and there was no loss of revenue. Case-Laws Income Tax Fri, 13 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444437