ITAT Mumbai Held Electronic Advance Tax Payment Timely Despite Next-Day Challan Generation

Sporta Technologies Private Limited Vs A/JCIT (ITAT Mumbai) The Mumbai Bench of the Income Tax Appellate Tribunal examined an appeal challenging the levy of interest under Section 234C of the Income-tax Act, 1961, for the Assessment Year 2024–25. The interest was levied on the ground that the third instalment of advance tax was allegedly paid after the prescribed due date. The assessee contended that the advance tax was paid electronically through net banking on 15 December 2023, which was the statutory due date, and the amount was debited from its bank account on the same day. However, due ...