TDS- For the purpose of computation of interest expression month is to be interpreted as period of 30 days

IN THE INCOME TAX APPELLATE TRIBUNAL

The Relevant Text of the Order as follows :

7.7 The learned DR could not controvert the above position and no contrary decision is brought on record. As could be seen from above, the Hon’ble High Court as well tribunal has taken a consistent view that ‘month’ is to be interpreted as period of 30 days and not British calendar. There are other judgments also relied upon by assessee wherein similar view has been taken. Thus , Respectfully following the ratio of aforesaid decisions, we allow the appeal of the assessee, by holding that for purpose of computation of interest payable u/s. 201(1A)(ii) of the 1961 Act read with Rule 119A(b) of the 1962 Rules, month is to be interpreted as period of 30 days and not British Calendar Month.

However, now for the purpose of computation of interest payable by the assessee in accordance with our decision in this order, we are restoring the mater back to the file of AO for limited purpose of computing the interest payable by assessee u/s 201(1A)(ii) of the 1961 Act. The AO is directed to compute interest payable by theassessee u/s 201(1A) of the 1961 Act in accordance with our decision in this order. We order accordingly.

8. In the result, appeal of the assessee in ITA no. 2295/Mum/2018 for AY 2014-15 is allowed as indicated above.”