https://www.taxtmi.com/caselaws?id=430119 The tribunal allowed the appeal, quashing the tax withholding demand under section 201 r.w.s. 195 and the consequential interest under section 201(1A). The decision was based on the recognition that BNY Mellon's advance tax payment discharged the primary tax liability, negating the appellant's vicarious liability for TDS. The tribunal emphasized that the provisions of section 201 are compensatory and not penal, and since no revenue loss occurred, the demands under section 201 were unjustified. en-us Wed, 09 Nov 2022 00:00:00 +0530 Thu, 10 Nov 2022 14:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430119 The tribunal allowed the appeal, quashing the tax withholding demand under section 201 r.w.s. 195 and the consequential interest under section 201(1A). The decision was based on the recognition that BNY Mellon's advance tax payment discharged the primary tax liability, negating the appellant's vicarious liability for TDS. The tribunal emphasized that the provisions of section 201 are compensatory and not penal, and since no revenue loss occurred, the demands under section 201 were unjustified. Case-Laws Income Tax Wed, 09 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430119