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2018 (5) TMI 1170 - HC - Income TaxInterest levied u/s 201 [1A] - non deduction of tds on interest on Deep Discount Bonds to HDFC Bank - Held that:- Following additional issues that the Tribunal may examine upon remand, which we propose to provide, are as under :- [A] Whether the HDFC Bank as a payee has deposited entire tax arising out of such payment in advance, and therefore, the ratio laid down in a decision of this Court in case Commissioner of Income-Tax v. Rishikesh Apartments Coop. Housing Society Limited [2001 (6) TMI 17 - GUJARAT High Court ] would apply. [B] In absence of any such advance payment, should the assessee not pay interest on delayed deposit of tax by the payee, as clarified by the Supreme Court in the case of Hindustan Coca Cola Beverages Private Limited [2007 (8) TMI 12 - SUPREME COURT OF INDIA ]. [C] If need be, in other words, if the answer to these questions is against the assessee, the Tribunal would be required to examine the assessee’s legal contention that in any case, looking to the nature of payments in question, liability of the assessee to deduct tax at source did not arise at all.
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