https://www.taxtmi.com/caselaws?id=263408 The High Court upheld the decisions of the appellate authorities, ruling that the respondent assessee was not in default under Section 201(1) of the Income Tax Act for short deduction on interest. The court determined that the contracts in question were simple purchase contracts, not composite contracts requiring deductions under Section 195(2). The court found no error in the orders of the appellate authorities and dismissed the appeal, affirming that the decisions were in line with the law and factual circumstances presented. en-us Tue, 18 Aug 2015 00:00:00 +0530 Wed, 02 Sep 2015 07:46:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263408 The High Court upheld the decisions of the appellate authorities, ruling that the respondent assessee was not in default under Section 201(1) of the Income Tax Act for short deduction on interest. The court determined that the contracts in question were simple purchase contracts, not composite contracts requiring deductions under Section 195(2). The court found no error in the orders of the appellate authorities and dismissed the appeal, affirming that the decisions were in line with the law and factual circumstances presented. Case-Laws Income Tax Tue, 18 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263408