https://www.taxtmi.com/caselaws?id=402726 TDS liability under Chapter XVII-B did not arise where no corresponding interest expenditure on deep discount bonds was claimed in the relevant year. The Tribunal found that the assessee's accounts did not show any interest expense for that year, and the Revenue did not rebut the expenditure breakup or otherwise displace that position. On that factual basis, the foundation for treating the assessee as a defaulting deductor failed, and the demand under sections 201(1) and 201(1A) could not stand. en-us Mon, 04 Jan 2021 00:00:00 +0530 Sun, 10 Jan 2021 23:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402726 TDS liability under Chapter XVII-B did not arise where no corresponding interest expenditure on deep discount bonds was claimed in the relevant year. The Tribunal found that the assessee's accounts did not show any interest expense for that year, and the Revenue did not rebut the expenditure breakup or otherwise displace that position. On that factual basis, the foundation for treating the assessee as a defaulting deductor failed, and the demand under sections 201(1) and 201(1A) could not stand. Case-Laws Income Tax Mon, 04 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402726