Section 125 of the Income Tax Act
The decision most relied on for Section 125 is CIT v. Ogale Glass Works Ltd. (25 ITR 529), cited in 23 of the 33 judgments on BharatTax that turn on this section.
Leading authorities on Section 125
CIT v. Ogale Glass Works Ltd.
25 ITR 529 · 1954 · Supreme Court
23
citing judgments
Payment by cheque is considered to be made on the date the cheque is presented, not when it is cleared, provided it is not dishonoured. This principle relates back to the date of receipt of the cheque.
CIT v. Sutlej Industries Ltd.
325 ITR 331 · 2010 · High Court
20
citing judgments
An assessee is entitled to interest under section 244A on self-assessment tax paid, with interest computed from the date of payment until the refund is granted.
CIT v. REPCO Home Finance Ltd.
53 Taxmann.com 47 · 2015 · High Court
13
citing judgments
For the purpose of calculating interest under section 234C of the Income Tax Act, the date of presentation of a cheque to the bank is considered the date of payment, not the date of clearing.
Rajasthan State Electricity Board v. CIT
281 ITR 274 · 2006 · High Court
6
citing judgments
