https://www.taxtmi.com/caselaws?id=70386 The Tribunal upheld the imposition of interest under section 201(1A) of the Income-tax Act, 1961 on a registered firm for not deducting tax at source while paying interest on borrowed capital for the assessment years 1982-83 and 1983-84. It concluded that the term "such person" in section 201(1A) includes all persons liable to deduct tax, even those who failed to deduct tax at the source. The appeals against the levy of interest were dismissed, emphasizing the validity of charging interest in such cases. en-us Thu, 28 Dec 1989 00:00:00 +0530 Fri, 15 Apr 2011 18:32:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70386 The Tribunal upheld the imposition of interest under section 201(1A) of the Income-tax Act, 1961 on a registered firm for not deducting tax at source while paying interest on borrowed capital for the assessment years 1982-83 and 1983-84. It concluded that the term "such person" in section 201(1A) includes all persons liable to deduct tax, even those who failed to deduct tax at the source. The appeals against the levy of interest were dismissed, emphasizing the validity of charging interest in such cases. Case-Laws Income Tax Thu, 28 Dec 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70386