This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Date of Payment of TDS is Date of Cheque deposit with bank: ITAT Mumbai
Case Law Details
- Case Name
- Standard Chartered Bank Vs DCIT (TDS) (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2008-09
- Courts
- All ITAT, ITAT Mumbai
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Standard Chartered Bank Vs DCIT (ITAT Mumbai)
The issue under consideration is whether the Interest Under section 201(1A) for late deposit of Tax Deducted at Source-(“TDS”) levied by CIT is justified in law?
ITAT states that, Circular No. 261, dated 08/08/1979 issued by the CBDT, unless withdrawn or amended, would hold the ground and would be binding on the revenue. Further, the payment would be deemed to have been made on the date the cheque was handed over to the banker and the date of payment was to be taken as the date of presentation of the cheques by the assessee. It also supports th...
