Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2015 (8) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (8) TMI 515 - HC - Income TaxInterest payment under Section 201(1A) on late payment of TDS - Tribunal confirming the order passed by the CIT (A) directing the A.O. to recalculate the interest payment from the date of deduction of TDS to the date of assessment of payee or after the date of actual payment of TDS, whichever is earlier - Held that:- In our opinion, when the assessee company had to pay the tax on behalf of the payee companies and when the payee companies themselves had not to pay any tax, subsequent to such declaration with regard to payee companies, no interest can be leviable against the company since there would be no loss of revenue in whatsoever manner. In the present case, it has been held that when the assessment qua the payee companies was completed and it was held that both the companies were not liable to pay any tax, the liability to pay interest upon the late payment of TDS by assessee would stop running. In our opinion the case of Commissioner of Income Tax V. Anjum M.H.Ghaswalla & Ors. (2001 (10) TMI 4 - SUPREME Court) would not be applicable to the present case. - Decided in favour of assessee.
|