Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (6) TMI 887 - AT - Income TaxNon deduction of tds u/s 195 - Interest under section 201(1) - sole contention of the assessee had been that since return have been filed by the payee/deductee and taxes/interest under section 234A, B and C have been paid, therefore, department have been compensated. Hence, no interest should be charged - Held that:- The contention of the assessee is not tenable because charging of interest under section 201(1A) and interest charged under section 234A, 234B and 234C of the Act operate in under different fields of the Income Tax Act. There might not have been any loss to the revenue in terms of tax but the revenue have to be compensated for the delay in payment of taxes to the exchequer. The charging of interest under section 201(1A) since is mandatory therefore, no interference is required in the matter. - Decided against assessee
|