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2008 (10) TMI 339 - HC - Income TaxDeduction of tax at source- The respondent, pursuant to the award made under Motor Vehicle Act had paid compensation to victims of motor vehicle accidents. The award amount consisted of compensation and interest. The respondent failed to deduct and remit tax at source to the revenue. Assessing Officer issued notice to the respondent and after enquiry found that the respondent had violated the mandate of section 194A. The Commissioner (Appeals) confirmed the order of the Assessing Officer. Tribunal partly allow the appeal. Held that- (i) the respondent was liable to pay interest on the undeducted tax. (ii) that the Tribunal had rightly directed that the interest paid above Rs. 50, 000/- was to be split and spread over the period from the date interest was directed to be paid till its payment.
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