https://www.taxtmi.com/caselaws?id=182847 The Tribunal set aside the default under section 201(1) but held the assessee liable for interest under section 201(1A) for any delay in payment, citing it as compensatory in nature. The matter was remanded to the Assessing Officer for further examination. This judgment clarifies the liability of an assessee in deducting tax at source under section 195 and the consequences of default under sections 201 and 201(1A). The Tribunal emphasized the importance of complying with tax deduction obligations while also recognizing the compensatory nature of interest under section 201(1A). en-us Fri, 21 Nov 2008 00:00:00 +0530 Fri, 20 May 2016 18:51:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182847 The Tribunal set aside the default under section 201(1) but held the assessee liable for interest under section 201(1A) for any delay in payment, citing it as compensatory in nature. The matter was remanded to the Assessing Officer for further examination. This judgment clarifies the liability of an assessee in deducting tax at source under section 195 and the consequences of default under sections 201 and 201(1A). The Tribunal emphasized the importance of complying with tax deduction obligations while also recognizing the compensatory nature of interest under section 201(1A). Case-Laws Income Tax Fri, 21 Nov 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182847