https://www.taxtmi.com/caselaws?id=9990 The High Court upheld the decision of the Commissioner of Income-tax (Appeals) to delete the interest levied under section 201(lA) of the Act. The Court emphasized the mandatory and automatic nature of interest payment to compensate the Revenue for late receipt of tax. It was held that interest is necessary even if tax has been paid later by the recipient. The Court cited precedent to support that no interest should be charged if the amount payable to the Revenue has been duly paid. Consequently, the appeal was dismissed, affirming the deletion of interest under section 201(lA) after verifying the facts and documents. en-us Mon, 01 Aug 2005 00:00:00 +0530 Sat, 04 Jul 2009 19:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9990 The High Court upheld the decision of the Commissioner of Income-tax (Appeals) to delete the interest levied under section 201(lA) of the Act. The Court emphasized the mandatory and automatic nature of interest payment to compensate the Revenue for late receipt of tax. It was held that interest is necessary even if tax has been paid later by the recipient. The Court cited precedent to support that no interest should be charged if the amount payable to the Revenue has been duly paid. Consequently, the appeal was dismissed, affirming the deletion of interest under section 201(lA) after verifying the facts and documents. Case-Laws Income Tax Mon, 01 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9990