https://www.taxtmi.com/caselaws?id=1900 The High Court upheld the Tribunal's decision that the company was not obligated to deduct tax under section 194A of the Income-tax Act as it was not responsible for paying the interest on loans taken and repaid by the directors individually. The court agreed that the company acted as an intermediary, and the interest payments were not reflected as its liabilities. The Tribunal's view was affirmed, dismissing the appeals and clarifying that any irregularities in the company's role as a conduit could be addressed under other laws, not under sections 194A and 201 of the Income-tax Act. en-us Thu, 11 Mar 2004 00:00:00 +0530 Sun, 08 May 2011 14:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1900 The High Court upheld the Tribunal's decision that the company was not obligated to deduct tax under section 194A of the Income-tax Act as it was not responsible for paying the interest on loans taken and repaid by the directors individually. The court agreed that the company acted as an intermediary, and the interest payments were not reflected as its liabilities. The Tribunal's view was affirmed, dismissing the appeals and clarifying that any irregularities in the company's role as a conduit could be addressed under other laws, not under sections 194A and 201 of the Income-tax Act. Case-Laws Income Tax Thu, 11 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1900