https://www.taxtmi.com/caselaws?id=761233 ITAT Mumbai held that interest under section 234C cannot be levied on an assessee when payers failed to deduct TDS under sections 196D and 194LD. The tribunal ruled that since advance tax liability is reduced by TDS deductible at source, and the assessee discharged full tax liability after payers' failure to deduct TDS, no interest is leviable. Following precedent from NGC Network Asia LLC case, the tribunal determined this was not a case of deferred advance tax payment but payer's fault in TDS deduction. The addition was deleted in favor of the assessee. en-us Wed, 14 Aug 2024 00:00:00 +0530 Thu, 07 Nov 2024 08:47:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761233 ITAT Mumbai held that interest under section 234C cannot be levied on an assessee when payers failed to deduct TDS under sections 196D and 194LD. The tribunal ruled that since advance tax liability is reduced by TDS deductible at source, and the assessee discharged full tax liability after payers' failure to deduct TDS, no interest is leviable. Following precedent from NGC Network Asia LLC case, the tribunal determined this was not a case of deferred advance tax payment but payer's fault in TDS deduction. The addition was deleted in favor of the assessee. Case-Laws Income Tax Wed, 14 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761233