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2016 (8) TMI 550 - ITAT KOLKATAInterest on account of late deposit of TDS u/s. 201(1)/201(1A) - Held that:- In the instant case, assessee has deposited the TDS amount on or before 7th day of next month in each tax was deducted. In the similar facts and circumstances, various courts have decided the issue in favour of assessee in the case of CIT v. Nenmony Investments & Agencies Ltd. (1977 (11) TMI 45 - KERALA High Court ) to reach to the conclusion that the cases where the cheque had been deposited with the bank or before 7th day of next month in which TDS was deducted no interest will be chargeable. The AO accordingly directed. Hence, this ground of assessee is allowed.
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