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2016 (1) TMI 618 - AT - Income TaxCharging of interest u/s 201(1)/ 201(1A) - late depositing the TDS - Held that:- It emerges from the record that assessee presented the requisite challan and cheque in favour of I T Department with SBBJ on 31-5-2008. Assessee has control over presentation of cheque and not on the subsequent internal procedure of banks. The CBDT circular no. 261 dated 8-8-1979 which is binding on the lower IT Authorities is clearly applicable to assessee case. Beside the coordinate Delhi ITAT judgment in the case of Sandip Bhagat (2015 (9) TMI 904 - ITAT DELHI) is also applicable which deserves to be followed wherein held that interest u/s 234C of the Act should be computed from the date of presentation of the cheque of tax payment. We direct the Assessing Officer to compute the interest u/s 234C of the Act, accordingly - Decided in favour of assessee.
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