https://www.taxtmi.com/caselaws?id=19392 The High Court held in favor of the Revenue, ruling that interest under section 201 must be levied on the assessee for non-deduction of tax at source, even if the tax was paid by recipients later. The Court emphasized the mandatory nature of interest to compensate for delayed tax payments. Regarding the deduction of subsidies from the cost of plant and machinery for depreciation, the Court agreed with the Tribunal that subsidies should not be subtracted. No costs were awarded in this case. en-us Thu, 21 Jul 1994 00:00:00 +0530 Thu, 05 Nov 2009 18:11:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19392 The High Court held in favor of the Revenue, ruling that interest under section 201 must be levied on the assessee for non-deduction of tax at source, even if the tax was paid by recipients later. The Court emphasized the mandatory nature of interest to compensate for delayed tax payments. Regarding the deduction of subsidies from the cost of plant and machinery for depreciation, the Court agreed with the Tribunal that subsidies should not be subtracted. No costs were awarded in this case. Case-Laws Income Tax Thu, 21 Jul 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19392