The Hon’ble Tribunal held that Interest u/s. 234C is leviable on default in payment of advance tax instalment on returned income, but in the present case it is done on assessed income. Thus, when there is no default on the part of the assessee in payment of advance tax as per returned income, such interest levied is not justified. (AY. 2013-14)
Sumitomo Corporation v. DCIT(IT) (2021) 213 TTJ 137 (Delhi)(Trib.)
S. 234C : Interest-Deferment of advance tax-No default on the part of the assessee in payment of advance tax as per returned income-Levy of interest is not justified.