https://www.taxtmi.com/caselaws?id=759504 Gujarat HC upheld Tribunal's decision applying Rishikesh Apartments precedent in TDS case involving payment to non-resident company. Assessee made short deduction under sections 194C/195, facing proceedings under section 201(1) and 201(1A). Court held that tax paid by contractor through advance tax and self-assessment should be deducted from gross tax assessee should have deducted when computing interest under section 201(1A). Tribunal correctly directed interest calculation only on contractor's self-assessment tax amount until deposit date. Assessee not liable for additional interest beyond contractor's actual tax liability. Decision favored assessee against Revenue. en-us Wed, 18 Sep 2024 00:00:00 +0530 Tue, 01 Oct 2024 11:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759504 Gujarat HC upheld Tribunal's decision applying Rishikesh Apartments precedent in TDS case involving payment to non-resident company. Assessee made short deduction under sections 194C/195, facing proceedings under section 201(1) and 201(1A). Court held that tax paid by contractor through advance tax and self-assessment should be deducted from gross tax assessee should have deducted when computing interest under section 201(1A). Tribunal correctly directed interest calculation only on contractor's self-assessment tax amount until deposit date. Assessee not liable for additional interest beyond contractor's actual tax liability. Decision favored assessee against Revenue. Case-Laws Income Tax Wed, 18 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759504