https://www.taxtmi.com/caselaws?id=28310 The court upheld the Income Tax Officer's decision to charge interest under section 201(1A) of the Income-tax Act, 1961, against the assessee for not deducting tax on interest credited to managing agents. It clarified that the liability to deduct tax arises at the time of crediting interest to the payee's account or at the time of actual payment. The court also found cited precedents by the assessee inapplicable and affirmed that interest was payable under section 201(1A). The decision favored the Income Tax Officer, denying the assessee's request for leave to appeal to the Supreme Court. en-us Mon, 28 Feb 1983 00:00:00 +0530 Sat, 20 Feb 2010 12:45:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28310 The court upheld the Income Tax Officer's decision to charge interest under section 201(1A) of the Income-tax Act, 1961, against the assessee for not deducting tax on interest credited to managing agents. It clarified that the liability to deduct tax arises at the time of crediting interest to the payee's account or at the time of actual payment. The court also found cited precedents by the assessee inapplicable and affirmed that interest was payable under section 201(1A). The decision favored the Income Tax Officer, denying the assessee's request for leave to appeal to the Supreme Court. Case-Laws Income Tax Mon, 28 Feb 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28310