https://www.taxtmi.com/caselaws?id=69365 The Tribunal held that crediting interest to an 'interest payable' account did not trigger the obligation to deduct tax at source under Section 194A. The financial difficulties of the assessees were deemed a valid reason for not crediting the interest to the payee's account, absolving them from liability under Section 194A. Consequently, the imposition of interest under Section 201(1A) was overturned, and the appeals were successful. en-us Sun, 21 Aug 1983 00:00:00 +0530 Wed, 06 Apr 2011 14:14:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69365 The Tribunal held that crediting interest to an 'interest payable' account did not trigger the obligation to deduct tax at source under Section 194A. The financial difficulties of the assessees were deemed a valid reason for not crediting the interest to the payee's account, absolving them from liability under Section 194A. Consequently, the imposition of interest under Section 201(1A) was overturned, and the appeals were successful. Case-Laws Income Tax Sun, 21 Aug 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69365