https://www.taxtmi.com/caselaws?id=208119 The High Court ruled in favor of the Revenue in three appeals concerning short deduction and payment of taxes under the Income Tax Act for the financial year 1992-93. The Court held that the assessee was considered in default under Section 201 for not deducting/paying tax at source on certain reimbursements, rejecting the Tribunal's finding. Additionally, the Court emphasized the mandatory nature of interest under Section 201(1A) and remanded the matter for computation of the default amount and interest payable, clarifying the liability of the assessee based on individual employee tax payments. en-us Wed, 21 Dec 2011 00:00:00 +0530 Thu, 05 Jan 2012 11:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208119 The High Court ruled in favor of the Revenue in three appeals concerning short deduction and payment of taxes under the Income Tax Act for the financial year 1992-93. The Court held that the assessee was considered in default under Section 201 for not deducting/paying tax at source on certain reimbursements, rejecting the Tribunal's finding. Additionally, the Court emphasized the mandatory nature of interest under Section 201(1A) and remanded the matter for computation of the default amount and interest payable, clarifying the liability of the assessee based on individual employee tax payments. Case-Laws Income Tax Wed, 21 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208119