https://www.taxtmi.com/caselaws?id=788655 Interest under section 201(1A) was not leviable where the assessee tendered the TDS cheque within time and the bank realised it on the next working day because of a holiday. Contemporaneous bank acknowledgment, challan records and the bank letter confirmed timely tender on 29.04.2022 and realisation on 02.05.2022, with no contrary evidence. The payment was treated as relating back to the date of tender, consistent with the principle that honour of a negotiable instrument operates from presentation and with CBDT Circular No. 261, which treats tender to the banker as the date of payment for direct tax challans. en-us Tue, 24 Mar 2026 00:00:00 +0530 Thu, 26 Mar 2026 09:05:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788655 Interest under section 201(1A) was not leviable where the assessee tendered the TDS cheque within time and the bank realised it on the next working day because of a holiday. Contemporaneous bank acknowledgment, challan records and the bank letter confirmed timely tender on 29.04.2022 and realisation on 02.05.2022, with no contrary evidence. The payment was treated as relating back to the date of tender, consistent with the principle that honour of a negotiable instrument operates from presentation and with CBDT Circular No. 261, which treats tender to the banker as the date of payment for direct tax challans. Case-Laws Income Tax Tue, 24 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788655