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Oil & Natural Gas Commission Versus Assitant Commissioner of Income Tax, (TDS) , Surat

Computation of interest under section 201(1A) - what is the connotation of ‘every month or part thereof’ appearing in Section 201(1A)- does it mean a calendar month or part thereof, or does it mean a ‘period of one month’ or part thereof? - Held that:- What is to be seen is the gap of time between the point of time when tax ought to have been deducted at source vis-à-vis the point of time when the tax was actually deducted, and it is in this context that connotation of expression ‘month’ is to b .....

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ing to the case in hand, the period of time gap between 16th November 2010 to 14th December 2012 is less than 25 months because, on 14th December 2012, the period of 25 months has not elapsed from 16th November, 2010. The period which is elapsed between these two dates is 24 months and 28 days. Going by the provisions of the General Clauses Act, therefore, the period of time between 16th November 2010 to 14th December 2012 is less than 25 months, and, accordingly, interest under section 201(1A) .....

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ted as a ‘month’. The subtle distinction between the scope of these two expressions cannot be ignored.

Thus uphold the grievance of the assessee that, on the facts of this case, interest under section 201(1A) could not have been charged for more than 25 months. The Assessing Officer is, accordingly, directed to recompute the interest under section 201(1A) in the light of my observations above. - Decided in favour of assessee - ITA No.1955 to 1965/Ahd/2015 - Dated:- 15-9-2015 .....

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nth or part thereof appearing in Section 201(1A)- does it mean a calendar month or part thereof, or does it mean a period of one month or part thereof. 3. The background in which this controversy arises is like this. Hon ble Supreme Court had, vide judgment dated 7th November 2012 in this case, had directed the assessee can t be held as an assessee in default, in view of the directions of the High Court, for the period from 20.02.1996 to 15.3.2010 and hence was liable to interest only with effec .....

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tion against the AO s so giving effect to the directions of Hon ble Supreme Court. The stand of the assessee was that since the total period was of 24 months and 28 days, the period for which interest under section 201(1A) could be levied was only 25 months. The Assessing Officer, however, was not impressed with this plea. Aggrieved, the assessee carried the matter in appeal before the CIT(A) but without any success. The assessee is not satisfied and is in further appeal before me. 4. I have hea .....

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to pay simple interest,- (i) at one per cent for every month or part of a month on the amount of such tax from the date on which such tax was deductible to the date on which such tax is deducted; and (ii) at one and one-half per cent for every month or part of a month on the amount of such tax from the date on which such tax was deducted to the date on which such tax is actually paid, and such interest shall be paid before furnishing the statement in accordance with the provisions of sub-section .....

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n of income by such resident 6. The provision is quite simple and unambiguous inasmuch as interest is to be charged for every month or part of a month on the amount of such tax from the date on which such tax was deductible to the date on which such tax is deducted . The context in which the expression month is used here is a measurement of period for which time value of money is to be compensated. If a person ought to have deducted the tax on, say, 21st of October and he actually does so on 3rd .....

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7th November 2010 to 14th December 2012 should be constructed as 26 months, it is also devoid of any merits. If that is the principle to be followed, when a person required to deduct tax at source on 21st March, actually deducts the tax at source on 18th March in the subsequent year, the period of delay will have to be taken as 13 months (i.e. 12X30= 360 days plus 2 days as part of the month). This approach also, thus, leads to incongruous, and, if I may say so, somewhat absurd results. Clearly, .....

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te or calculate . In substance thus, the mandate of Section 3(35) is to count, compute or calculate according to, or as per, the British calendar. It is also important to note that even this definition is not in absolute terms inasmuch as when there is anything repugnant in the subject or the context , this definition can be discarded. It is the context in which the matter is being examined that must be treated as decisive factor. The levy of interest under section 201(1A) is compensatory in nat .....

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t example, is less than a month because it is only when the same date comes in the next month, the period of one month can be said to have elapsed. Similarly, the period of 21st March to 18th March of the subsequent year, as per the British calendar, is less than 12 months since the period of twelve months has not elapsed in between these two dates. Coming to the case in hand, the period of time gap between 16th November 2010 to 14th December 2012 is less than 25 months because, on 14th December .....

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