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2004 (8) TMI 14 - HC - Income TaxTDS - failure to deduct and pay tax as required under section 192 - levy of interest under section 201(1A) - ITO noted that no tax had been deducted or paid on the salary advance paid to the employees - levy of interest under section 201(1A) is of a compensatory measure for withholding tax which ought to have gone to the exchequer. The provision makes it clear that the levy is mandatory - held that the levy of interest under section 201(1A) is automatic – assessee’s appeal is dismissed
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