https://www.taxtmi.com/caselaws?id=3456 The High Court affirmed the Tribunal's decision that the recovery proceedings for the sums not deducted at source were time-barred under Section 231 of the Income-tax Act, 1961. Consequently, the levy of interest under Section 201(1A) was also deemed time-barred. The Court upheld the Tribunal's deletion of the penalty under Section 221, as the Revenue failed to establish that the assessee's default lacked good and sufficient reasons. The High Court ruled in favor of the assessee, concluding that the Tribunal's findings were justified. en-us Tue, 09 May 2006 00:00:00 +0530 Tue, 14 Jun 2011 04:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3456 The High Court affirmed the Tribunal's decision that the recovery proceedings for the sums not deducted at source were time-barred under Section 231 of the Income-tax Act, 1961. Consequently, the levy of interest under Section 201(1A) was also deemed time-barred. The Court upheld the Tribunal's deletion of the penalty under Section 221, as the Revenue failed to establish that the assessee's default lacked good and sufficient reasons. The High Court ruled in favor of the assessee, concluding that the Tribunal's findings were justified. Case-Laws Income Tax Tue, 09 May 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3456