https://www.taxtmi.com/caselaws?id=12351 The Court upheld the Tribunal's decision that the payments made by the assessee to investors constituted "interest" under section 2(28A) of the Income-tax Act, 1961. Consequently, the assessee was found liable to deduct tax at source under section 194A. The Court ruled that despite the absence of a traditional debtor-creditor relationship, the scheme obligated the assessee to make monthly payments to investors, meeting the statutory definition of "interest." Therefore, the assessee was required to comply with tax deduction obligations under sections 194A, 201(1), and 201(1A) of the Act. en-us Wed, 09 Oct 2002 00:00:00 +0530 Mon, 22 Feb 2010 13:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12351 The Court upheld the Tribunal's decision that the payments made by the assessee to investors constituted "interest" under section 2(28A) of the Income-tax Act, 1961. Consequently, the assessee was found liable to deduct tax at source under section 194A. The Court ruled that despite the absence of a traditional debtor-creditor relationship, the scheme obligated the assessee to make monthly payments to investors, meeting the statutory definition of "interest." Therefore, the assessee was required to comply with tax deduction obligations under sections 194A, 201(1), and 201(1A) of the Act. Case-Laws Income Tax Wed, 09 Oct 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12351