https://www.taxtmi.com/caselaws?id=69153 The Tribunal dismissed the appeal for the assessment year 1985-86, ruling that no interest under section 201(1A) could be charged for cheque discounting charges or creditors covered by Form No. 27A. For the assessment years 1986-87 and 1987-88, the Tribunal partly allowed the revenue's appeals, holding the assessee liable to deduct tax at source for interest credited to the interest payable account. The Tribunal directed the Assessing Officer to levy interest under section 201(1A) on the sums credited to the interest payable account from the date of credit till the date of actual payment of tax into the bank. en-us Fri, 16 Mar 2001 00:00:00 +0530 Tue, 05 Apr 2011 14:25:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69153 The Tribunal dismissed the appeal for the assessment year 1985-86, ruling that no interest under section 201(1A) could be charged for cheque discounting charges or creditors covered by Form No. 27A. For the assessment years 1986-87 and 1987-88, the Tribunal partly allowed the revenue's appeals, holding the assessee liable to deduct tax at source for interest credited to the interest payable account. The Tribunal directed the Assessing Officer to levy interest under section 201(1A) on the sums credited to the interest payable account from the date of credit till the date of actual payment of tax into the bank. Case-Laws Income Tax Fri, 16 Mar 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69153