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2017 (8) TMI 235 - AT - Income TaxLevy of interest on late deposit of tax deducted at source - Held that:- Undisputedly the amount of TDS was debited from the bank account of the assessee on the due date i.e. October 7, 2009 and the delay in deposit of such tax by a day was on account of system and connectivity issues at the bankers' end, which was beyond the control of the assessee. The learned Commissioner of Income-tax (Appeals) was thus not justified in holding the levy of interest on the alleged late deposit of tax deducted at source under section 201(1) read with section 201(lA) of the Act. He was, however, justified in deciding the issue of delay in payment of TDS in favour of the assessee questioned by the Revenue in view of the decision of the hon'ble Supreme Court in the case of CIT v. Ogale Glass Works Ltd. [1954 (4) TMI 3 - SUPREME Court]. In the present case the amount of TDS was debited from the bank account of the assessee on the due date instead of payment by cheque - Decided in favour of assessee.
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