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2019 (7) TMI 178 - AT - Income TaxInterest u/s 201(1A) - delay in deposit of TDS to the credit of Central Government ranging for the period from 15 days to 35 days - whether month is to be interpreted as period of 30 days and not British Calendar Month? - month and part of month - HELD THAT:- Month is to be interpreted as period of 30 days and not British calendar. There are other judgments also relied upon by assessee wherein similar view has been taken. See ARVIND MILLS LIMITED [2011 (9) TMI 244 - GUJARAT HIGH COURT] We allow the appeal of the assessee, by holding that for purpose of computation of interest payable u/s. 201(1A)(ii) of the 1961 Act read with Rule 119A(b) of the 1962 Rules, month is to be interpreted as period of 30 days and not British Calendar Month. However, now for the purpose of computation of interest payable by the assessee in accordance with our decision in this order, we are restoring the mater back to the file of AO for limited purpose of computing the interest payable by assessee u/s 201(1A)(ii). AO is directed to compute interest payable by the assessee u/s 201(1A) of the 1961 Act in accordance with our decision in this order.
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