https://www.taxtmi.com/caselaws?id=371517 Timely tender of a cheque for TDS payment to the Government banker is treated as payment on the date of handing over the cheque, not on the date the bank later remits the amount to the Government account, where the cheque is honoured. CBDT Circular No. 261 dated 08.08.1979 was applied as binding on the revenue and was noted to remain unwithdrawn. On that basis, delay attributable to the bank or clearing process did not make the assessee an assessee in default, and interest under section 201(1A) was not sustainable. The consequential demands also failed. en-us Fri, 30 Nov 2018 00:00:00 +0530 Wed, 05 Dec 2018 06:38:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371517 Timely tender of a cheque for TDS payment to the Government banker is treated as payment on the date of handing over the cheque, not on the date the bank later remits the amount to the Government account, where the cheque is honoured. CBDT Circular No. 261 dated 08.08.1979 was applied as binding on the revenue and was noted to remain unwithdrawn. On that basis, delay attributable to the bank or clearing process did not make the assessee an assessee in default, and interest under section 201(1A) was not sustainable. The consequential demands also failed. Case-Laws Income Tax Fri, 30 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371517