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For section 201(1A) interest ‘month’ means period of 30 days
Case Law Details
- Case Name
- UTI Mutual Fund Vs DCIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Mumbai
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UTI Mutual Fund Vs DCIT (ITAT Mumbai)
The issue under consideration is whether the AO is correct in levying additional interest u/s 201(1A) for late payment of TDS?
Month is to be interpreted as period of 30 days and not British calendar for levying additional interest u/s 201(1A) for late payment of TDS?
In the present case, the assessee has deducted Income-tax at source on various dates of the month of October 2013 which was required to be deposited to the credit of Central Government on 7th November 2013 but was deposited late to the credit of Central Government on 11.11.20...
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