https://www.taxtmi.com/caselaws?id=214195 The High Court upheld the interest liability of the appellant under section 206C(7) of the Income Tax Act, 1961, for failing to collect tax at source from contractors. The Court clarified that interest is payable on the tax amount not collected by the deductor, rejecting the argument that it should be based on the tax liability of the deductee. The appeal was dismissed, affirming the lower authorities' decision that interest is to be paid on the uncollected tax amount in accordance with the statute. The Court found no substantial question of law, leading to the appeal's dismissal. en-us Wed, 22 Feb 2012 00:00:00 +0530 Wed, 01 Aug 2012 00:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214195 The High Court upheld the interest liability of the appellant under section 206C(7) of the Income Tax Act, 1961, for failing to collect tax at source from contractors. The Court clarified that interest is payable on the tax amount not collected by the deductor, rejecting the argument that it should be based on the tax liability of the deductee. The appeal was dismissed, affirming the lower authorities' decision that interest is to be paid on the uncollected tax amount in accordance with the statute. The Court found no substantial question of law, leading to the appeal's dismissal. Case-Laws Income Tax Wed, 22 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214195