No Interest on Late TDS Payment due to System / Connectivity issues at Bankers’ End

These are cross appeals. The Revenue has questioned the first appellate order whereby the ld. CIT (Appeals) has decided the issue of delay in payments of TDS in favor of the assessee. The assessee on the other hand has questioned the first appellate order in upholding the levy of interest on late deposit of tax deducted at source amounting to Rs. 4,21,459/- under section 201(1) read with section 201(lA) of the Act. 2. After considering the arguments advanced by the parties, we find that the dispute is confined to the issue as to what would be the date of remitting the e-tax payment i.e. the d...