https://www.taxtmi.com/caselaws?id=214468 The ITAT allowed the appeals, directing reconsideration by the Assessing Officer in light of a Coordinate Bench decision and Supreme Court ruling. It emphasized that if the recipient had no tax liability, no interest under Section 201(1A) should be levied on the assessee. The decision stressed assessing the recipient's tax liability before imposing interest. Other technical arguments were not discussed as the main issue favored the assessee. The appeals were allowed for statistical purposes, underscoring the importance of evaluating the recipient's tax liability in interest levies under Section 201(1A). en-us Thu, 31 May 2012 00:00:00 +0530 Sat, 30 Jun 2012 17:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214468 The ITAT allowed the appeals, directing reconsideration by the Assessing Officer in light of a Coordinate Bench decision and Supreme Court ruling. It emphasized that if the recipient had no tax liability, no interest under Section 201(1A) should be levied on the assessee. The decision stressed assessing the recipient's tax liability before imposing interest. Other technical arguments were not discussed as the main issue favored the assessee. The appeals were allowed for statistical purposes, underscoring the importance of evaluating the recipient's tax liability in interest levies under Section 201(1A). Case-Laws Income Tax Thu, 31 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214468