https://www.taxtmi.com/caselaws?id=350054 The Tribunal upheld the Commissioner of Income Tax (Appeals)'s decision regarding the levy of interest under section 201(1A) of the Income Tax Act. It held that interest under section 201(1A) is mandatory and applies irrespective of the deductee's tax liability, as long as there was a failure to deduct TDS. The Tribunal emphasized that the interest is penal in nature and not compensatory, rejecting the argument that no interest should be charged when the deductee has no tax liability. The appeals of the assessee for the relevant assessment years were dismissed. en-us Wed, 18 Oct 2017 00:00:00 +0530 Mon, 30 Oct 2017 08:32:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350054 The Tribunal upheld the Commissioner of Income Tax (Appeals)'s decision regarding the levy of interest under section 201(1A) of the Income Tax Act. It held that interest under section 201(1A) is mandatory and applies irrespective of the deductee's tax liability, as long as there was a failure to deduct TDS. The Tribunal emphasized that the interest is penal in nature and not compensatory, rejecting the argument that no interest should be charged when the deductee has no tax liability. The appeals of the assessee for the relevant assessment years were dismissed. Case-Laws Income Tax Wed, 18 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350054