https://www.taxtmi.com/caselaws?id=408230 The tribunal held that the rectification petition under section 154 of the Income Tax Act was maintainable, as CBDT Circular No. 261 is binding on the Department. It determined that the date of tendering a cheque is the date of TDS payment, provided the cheque is honoured. Consequently, the tribunal directed the deletion of interest levied under section 201(1A) for alleged delay in TDS deposit. The tribunal set aside the impugned order and allowed the assessee's appeals, applying the findings in ITA No. 1024/Mum/2019 to related appeals for consistency. The order was pronounced on May 6, 2021. en-us Thu, 06 May 2021 00:00:00 +0530 Sat, 26 Oct 2024 17:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408230 The tribunal held that the rectification petition under section 154 of the Income Tax Act was maintainable, as CBDT Circular No. 261 is binding on the Department. It determined that the date of tendering a cheque is the date of TDS payment, provided the cheque is honoured. Consequently, the tribunal directed the deletion of interest levied under section 201(1A) for alleged delay in TDS deposit. The tribunal set aside the impugned order and allowed the assessee's appeals, applying the findings in ITA No. 1024/Mum/2019 to related appeals for consistency. The order was pronounced on May 6, 2021. Case-Laws Income Tax Thu, 06 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408230