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2014 (4) TMI 696 - AT - Income TaxStay application - Demand raised u/s 201(1) and 201(1A) of the Act - non deduction of TDS – 100% tax amount already paid by the receipient - Held that:- The contention of the assessee that the recipient of income has already paid taxes on their income, therefore, recovery of tax from the assessee amounts to double recovery of tax in respect of the income requires verification on the part of the AO – Relying upon M/s. Hindustan Coca Cola Beverage Pvt. Ltd Versus Commissioner of Income Tax [2007 (8) TMI 12 - SUPREME COURT OF INDIA] - if the payee has made demand of tax then to that extent, the assessee should not be considered as the assessee in default – the assessee’s liability for levy of interest u/s 201(1A) cannot be denied with respect to the delay in payment of taxes – the assessee has already paid more than 100% of its demand raised u/s 201(1A) for all the years, assessee cannot be asked to pay further amount with respect to demand raised u/s 201(1A) - thus, stay granted till the disposal.
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