https://www.taxtmi.com/caselaws?id=247046 The Tribunal dismissed all appeals, ruling that tax deduction at source on interest payments was made at the time of actual payment, not at accrual, as required by Section 194-A of the Income Tax Act. Consequently, the penalty under Section 271 C for failure to deduct tax at source was deemed unjustified, as there was no default on the part of the appellant in this regard. en-us Fri, 25 Apr 2014 00:00:00 +0530 Wed, 30 Apr 2014 08:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247046 The Tribunal dismissed all appeals, ruling that tax deduction at source on interest payments was made at the time of actual payment, not at accrual, as required by Section 194-A of the Income Tax Act. Consequently, the penalty under Section 271 C for failure to deduct tax at source was deemed unjustified, as there was no default on the part of the appellant in this regard. Case-Laws Income Tax Fri, 25 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247046