yes it is penalty for non payment of govt tax within due date .... suppose if it is allowed everyone will do this .... hence to restric this kind of non comliance payment will ammounts to penal interest .. hence it is disallowed
It is not fair to demand third party records/returns. It should be mandated to banks to capture payee name as spelt on the cheque, under law. Frequent payees should be registered account linked and related. Account payee cheques should bear account number and IFSC code, besides payee name.