https://www.taxtmi.com/caselaws?id=207003 The Tribunal ruled in favor of the assessee, holding that interest was not leviable under Sec.201(1A) of the Income Tax Act. The Court emphasized the duty to deduct tax at source even from loss-making companies and dismissed the argument that TDS should only apply to income chargeable under the Act. The Tribunal's decision on interest levy was set aside, and the assessment order was modified accordingly, allowing the assessee's appeal. en-us Tue, 20 Sep 2011 00:00:00 +0530 Fri, 23 Sep 2016 15:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207003 The Tribunal ruled in favor of the assessee, holding that interest was not leviable under Sec.201(1A) of the Income Tax Act. The Court emphasized the duty to deduct tax at source even from loss-making companies and dismissed the argument that TDS should only apply to income chargeable under the Act. The Tribunal's decision on interest levy was set aside, and the assessment order was modified accordingly, allowing the assessee's appeal. Case-Laws Income Tax Tue, 20 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207003