https://www.taxtmi.com/caselaws?id=336889 The High Court held that the assessee was liable to pay interest under Section 201(1A) even if the payee filed nil returns or returns showing a loss. The Court emphasized that the liability to deduct tax at source is independent of the payee's tax liability. The Tribunal's decision was set aside, and the matter was remanded to decide on the applicability of Section 194C. The appeal favored the Revenue, affirming the mandatory nature of interest payment under Section 201(1A) and the need for further consideration on Section 194C's applicability. en-us Tue, 20 Dec 2016 00:00:00 +0530 Sat, 17 Jun 2017 10:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336889 The High Court held that the assessee was liable to pay interest under Section 201(1A) even if the payee filed nil returns or returns showing a loss. The Court emphasized that the liability to deduct tax at source is independent of the payee's tax liability. The Tribunal's decision was set aside, and the matter was remanded to decide on the applicability of Section 194C. The appeal favored the Revenue, affirming the mandatory nature of interest payment under Section 201(1A) and the need for further consideration on Section 194C's applicability. Case-Laws Income Tax Tue, 20 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336889