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2013 (1) TMI 487 - BOMBAY HIGH COURTInterest on securities - nonconvertible debentures - whether the ITAT was justified in setting aside the order passed under Section 201(1) / 201(1A) - Held that:- Once it is accepted in the regular assessment that interest paid by the assessee was not the debenture interest, it was not open to the ITO (TDS) to treat that interest paid were debenture interest and pass an order under Section 201(1) /201(1A) on the ground that the assessee has failed to deduct tax at source while paying the debenture interest to the assessee. No fault with the decision of the ITAT in setting aside the order passed by ITO (TDS) under Section 201(1) / 201(1A) - in favour of assessee.
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