TaxTMI 
TaxTMI 
2018 (12) TMI 1388
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....resent appeals, sought to set aside the impugned orders both dated 28.03.2016 passed by Ld. CIT (Appeals)-41, New Delhi qua the Assessment Years 2008-09 & 2015-16 on the grounds inter alia that :- "ITA NO.3637/DEL/2016 (AY 2008-09) 1. The learned Commissioner of Income Tax (Appeals)-41, New Delhi erred in law and on facts in upholding levy of interest @ 1.50% per month for two months total amounting to Rs. 35,530/- for the tax duly deposited on due date i.e. 07.07.2007 and the same was cleared in normal banking channels on 10.07.2007." "ITA NO.3638/DEL/2016 (AY 2015-16) 1. The learned Commissioner of Income Tax (Appeals)-41, New Delhi erred in law and on facts in upholding levy of interest @ 1.50% per month for two months total a....
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....assed by the revenue authorities below in the light of the facts and circumstances of the case. 6. Undisputedly, in AY 2008-09, the assessee deposited the TDS on 07.07.2007 which was credited into the account of Revenue on 10.07.2007 as against due date of 07.07.2007. It is also not in dispute that AO by declining the contentions raised by the assessee that the date of deposit is to be taken as 07.07.2007, raised a demand of two months amounting to Rs. 35,532/- by treating the payment date as 10.07.2007 instead of 07.07.2007. 7. Ld. AR for the assessee by relying upon the decision rendered by the coordinate Bench of the Tribunal in Sandip Bhagat vs. ACIT - (2017) 88 taxmann.com 356 (Delhi - Trib.) contended that the date of depositing the....
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....the assessee deposited the TDS for the quarter ending 30.06.2014 on 07.07.2014 through online banking channel but was debited from the bank account of the assessee on 08.07.2014, AO as well as CIT (A) taken the view that when the amount was credited in the account of state exchequer on 08.07.2014, interest for the delay of 2 months as per section 201(1A) is to be charged and thereby raised the demand of Rs. 10,65,320/-. 10. Again, the ld. AR for the assessee contended that when the payment of TDS was made on 07.07.2014 through banking channel on the basis of sufficient funds in its account, the same is to be treated as deposited on 07.07.2014 itself and relied upon the decision rendered by the coordinate Bench of the Tribunal in case cited....