TMI Blog2016 (12) TMI 1090X X X X Extracts X X X X X X X X Extracts X X X X ..... d that:- A perusal of the relevant provisions of Chapter VII of the Act [Part A, B, C and F of Chapter VII] would go to show that against salary a deduction, at the requisite rate at which income tax is to be paid by the person entitled to receive the salary, is required to be made by the employer failing which the employer is liable to pay simple interest thereon. The provisions relating to payme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the appeals are allowed; the order of the High Court so far as the payment of interest under Section 234B and Section 234C of the Act is set aside. - Civil Appeal No. 11385-11386 of 2016 [Arising out of Special Leave Petition (Civil) No.1196-1197/2013] - - - Dated:- 29-11-2016 - Ranjan Gogoi And N. V. Ramana, JJ. For the Petitioner : Mr. Dhruv Agarwal, Sr. Adv. Ms. Shruti Agrawal, Adv. M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Company on a going concern basis for a total consideration of ₹ 6,00,000/-. On the same date i.e. 15th October, 1993, a Non-Compete Agreement was signed between the appellant Assessee and the Acquirer Company imposing a restriction on the appellant from carrying on any business of Computer Software development and marketing for a period of five years for which the appellant Assessee was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the receipt, namely, that the same was salary. 4. A perusal of the relevant provisions of Chapter VII of the Act [Part A, B, C and F of Chapter VII] would go to show that against salary a deduction, at the requisite rate at which income tax is to be paid by the person entitled to receive the salary, is required to be made by the employer failing which the employer is liable to pay simple int ..... X X X X Extracts X X X X X X X X Extracts X X X X
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