https://www.taxtmi.com/caselaws?id=68436 The Appellate Tribunal allowed the appeal, overturning the levy of penal interest under section 201(1A) for the assessment year 1997-98. The Tribunal concluded that the lack of uniformity in tax deduction due to adjustments for excess or deficiency did not warrant penal interest as the tax was deposited correctly, causing no revenue loss. The decision favored the assessee, leading to the deletion of the addition of Rs. 17,350 as penal interest. en-us Tue, 02 Nov 2004 00:00:00 +0530 Wed, 30 Mar 2011 09:42:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68436 The Appellate Tribunal allowed the appeal, overturning the levy of penal interest under section 201(1A) for the assessment year 1997-98. The Tribunal concluded that the lack of uniformity in tax deduction due to adjustments for excess or deficiency did not warrant penal interest as the tax was deposited correctly, causing no revenue loss. The decision favored the assessee, leading to the deletion of the addition of Rs. 17,350 as penal interest. Case-Laws Income Tax Tue, 02 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68436