https://www.taxtmi.com/caselaws?id=17982 The High Court ruled in favor of the assessee, holding that the levy of interest under section 201 of the Income-tax Act was time-barred. The court emphasized that the liability for tax and interest arises immediately upon failure to deduct tax at source or pay it, without the need for a demand. The court concluded that both tax and interest were time-barred in this case, agreeing with the Tribunal's decision. The judgment was to be communicated to the Income-tax Appellate Tribunal for further action. en-us Fri, 29 Mar 1996 00:00:00 +0530 Sat, 26 Sep 2009 10:45:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17982 The High Court ruled in favor of the assessee, holding that the levy of interest under section 201 of the Income-tax Act was time-barred. The court emphasized that the liability for tax and interest arises immediately upon failure to deduct tax at source or pay it, without the need for a demand. The court concluded that both tax and interest were time-barred in this case, agreeing with the Tribunal's decision. The judgment was to be communicated to the Income-tax Appellate Tribunal for further action. Case-Laws Income Tax Fri, 29 Mar 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17982