https://www.taxtmi.com/caselaws?id=374996 The Tribunal overturned the order regarding interest calculation on late tax payment, emphasizing interpreting 'month' as a 30-day period, not the British calendar month. The AO's method was deemed incorrect, and the matter was remanded for detailed calculations based on the ordinary meaning of a month. The decision stressed consistency in legal interpretation, citing precedents and rejecting the General Clauses Act's definition of 'month.' The assessee's appeals were allowed for statistical purposes, underscoring the significance of legal term interpretation in tax matters for fairness and consistency. en-us Thu, 24 Jan 2019 00:00:00 +0530 Mon, 11 Feb 2019 22:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374996 The Tribunal overturned the order regarding interest calculation on late tax payment, emphasizing interpreting 'month' as a 30-day period, not the British calendar month. The AO's method was deemed incorrect, and the matter was remanded for detailed calculations based on the ordinary meaning of a month. The decision stressed consistency in legal interpretation, citing precedents and rejecting the General Clauses Act's definition of 'month.' The assessee's appeals were allowed for statistical purposes, underscoring the significance of legal term interpretation in tax matters for fairness and consistency. Case-Laws Income Tax Thu, 24 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374996