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2013 (9) TMI 1130 - ITAT JABALPURAddition u/s 201(1) and 201(1A) - Held that:- In the instant case before us, since the deductee M/s SsangYong Engineering and Construction Company Ltd., is being assessed at loss, no tax is payable by the deductee. Accordingly, no occasion will arise for charging interest from the date on which such tax was deductible to the date on which such tax is actually paid. Direction of charging of interest u/s.201(1A) in the instant case will not serve any purpose insofar as the recipient of income was held to be not liable to pay any tax on its income as per assessment framed u/s.143(3). Therefore, any payment of TDS by the assessee in respect of payment made to deductee M/s SsangYong Engineering and Construction Company Ltd will entitle the deductee to get back such TDS with interest at the time of framing assessment u/s.143(3) of the Act. Thus, it is not a fit case for holding the assessee deductor in default u/s.201(1) nor for interest u/s.201(1A) of the Act.
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