Interest Imposed for Deferment of Advance Tax Payments u/s 234C of Income Tax Act for Shortfall in Payment.

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....Interest for deferment of advance tax - Section 234C is applicable where there is shortfall in the making of payment, by the assessee, on the returned income, whether it be on account of underestimate or failure to estimate the amount of capital income or the income of the nature referred to u/s 2(24)(ix) - HC....