Penaly for lower payment of advance tax

I think only 234B & C is applicable .

For both........

For both........

The interest under sections 234B & C for non payment or short payment of advance tax is itself in the nature of penal interest, there is no other penalty for the same.

Interest under sections 234B and 234C for Short payment and deferrment of Advance Tax......

No other penalty is chargeable incase of Advance Tax.........

Penalty can be levied for non-payment of advance-tax - Penalty can be levied for non-payment of advance tax - E.K. Varghese v. ITO [1974] 96 ITR 577 (Ker.); Swastik Engg. Works v. CIT [1973] 87 ITR 116 (Guj.); Rameshwar Pershad v. CIT [1974] 95 ITR 605 (Punj. & Har.); Smt. Kusum Kumari v. Union of India [1972] 85 ITR 19 (All.); Prakash Cotton Mills (P.) Ltd. v. CIT [1979] 120 ITR 497 (Bom.); CIT v. Sreerama & Co. [1975] 101 ITR 531 (AP).