Case Law Details
Central Bank of India Vs DCIT (ITAT Delhi)
ITAT Delhi held that interest on late deposit of TDS deleted as assessee was having sufficient cause for not depositing the TDS on time due to the Interim Order passed by the Hon’ble Madras High Court.
Facts- The assessee deducted TDS amount from arrears of employees in March 2011 and the same had been remitted to the IT Department on 10/04/2013, the A.O. charged interest of Rs. 1,69,962/-. The assessee filed an application u/s. 154 read with Section 200A of the Act which had been dismissed by the DCIT dated 31/12/2013.
CIT(A) dismissed the appeal filed by the assessee. Being aggrieved, the present appeal is filed.
Conclusion- Held that there was an interim order dated 29/03/2011 in operation as on the date of remittance TDS, thus, in our opinion, there was sufficient cause for the assessee not to remit TDS amount and the authorities ought not to have charged the interest on the Assessee, accordingly Grounds of the Appeal of the assessee is allowed and the interest levied on the Assessee by the Revenue for late payment of TDS amount is deleted.
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