Interest on PDCs: Undisclosed Income When Extended?

Is interest paid to be treated as undisclosed income when the date of PDCs are extended?

Quick Summary

This Income Tax Appellate Tribunal case concerns whether interest earned on Post-Dated Cheques (PDCs) should be considered undisclosed income when the PDC dates are extended. The tribunal found that the assessment was void ab initio, meaning it was invalid from the start. Therefore, the appeal was allowed, and the tribunal did not need to consider the merits of the additions made.

Court :
ITAT Delhi

Brief :
This appeal by the assessee is preferred against the order of the CIT(A) - XXXIII, New Delhi dated 31.10.2014 pertaining to A.Y 2006-07.

Citation :
ITA No. 769/DEL/2015

Daily Limit Reached

You have reached your daily limit of 2 Free Judgements

Subscribe to CCI PRO for unlimited access

Why Upgrade to CCI PRO?

No Ads
WhatsApp Community
Daily E-Newsletter
Unlimited Judgements Access
Profile Visitors
Link Social Profiles
Featured Job Posts
Pro Badge
Expert GST Guidance
Unlimited Forum Replies
Download Content in PDF

1 Year PLAN

1999

(Excl. of GST ₹359)

2 Years PLAN

3499

(Excl. of GST ₹629)

BEST VALUE

3 Years PLAN

4999

(Excl. of GST ₹899)

View all CCI PRO benefits

Already a PRO member? Login here for an ad-free experience. 07941056694

Attached File : 1442821_4155_1627553168_769bptp_a_.pdf

downloaded 340 times

174 Views Comment Share Income Tax Report

Judgement posted by

Poojitha Raam Vinay

Practice

I simplify complex income tax, TDS, banking, and investment updates into practical insights for taxpayers, salaried professionals, pensioners, and senior citizens. I regularly write on ITR filing, tax compliance, savings schemes, and the latest financial rule changes in India.

View Judgements

Comments