https://www.taxtmi.com/caselaws?id=309212 The Tribunal upheld the decision of the ld. CIT(A) regarding the appellant's liability to deduct tax at source under sections 201(1) and 201(1A) for multiple assessment years. It was held that the appellant was not liable to deduct tax on interest income accrued on surplus funds based on the Accounting Manuals and relevant provisions. The Tribunal also found that exemptions applied to the appellant as a government-funded entity, in line with precedent and consistent decisions. Consequently, all departmental appeals challenging the deletion of demands were dismissed in favor of the respondent. en-us Thu, 03 Dec 2015 00:00:00 +0530 Thu, 17 Aug 2023 21:49:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309212 The Tribunal upheld the decision of the ld. CIT(A) regarding the appellant's liability to deduct tax at source under sections 201(1) and 201(1A) for multiple assessment years. It was held that the appellant was not liable to deduct tax on interest income accrued on surplus funds based on the Accounting Manuals and relevant provisions. The Tribunal also found that exemptions applied to the appellant as a government-funded entity, in line with precedent and consistent decisions. Consequently, all departmental appeals challenging the deletion of demands were dismissed in favor of the respondent. Case-Laws Income Tax Thu, 03 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309212