No Interest for TDS Payment Delay Due to Technical Glitches

New Delhi Television Ltd Vs ACIT (ITAT Delhi) Introduction: In a significant development, the Income Tax Appellate Tribunal (ITAT) of Delhi has ruled in favor of New Delhi Television Ltd (NDTV) in the matter of interest charged u/s 201(1A) of the Income Tax Act due to a delay in remittance of Tax Deducted at Source (TDS). The Tribunal directed the removal of the interest charges, citing technical glitches and banking procedures that led to a delay of a single day on two separate occasions. Analysis: The ITAT took into account the peculiar circumstances leading to the delay in TDS remittance, ...