https://www.taxtmi.com/caselaws?id=55986 The appeals by the Revenue challenging the charging of interest under s. 201(1A) of the IT Act were dismissed. The CIT(A) deleted the interest amounts, emphasizing that tax should be deducted on the actual salary paid each month, not on an average basis. The Tribunal agreed, noting that s. 192(3) allows adjustments in tax deductions based on previous deductions. Citing relevant cases, the Tribunal ruled that interest under s. 201(1A) was not justified when tax shortfalls were rectified within the financial year. As a result, no interest was chargeable in the present case, and the appeals were dismissed. en-us Thu, 09 Nov 1995 00:00:00 +0530 Wed, 01 Dec 2010 10:02:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55986 The appeals by the Revenue challenging the charging of interest under s. 201(1A) of the IT Act were dismissed. The CIT(A) deleted the interest amounts, emphasizing that tax should be deducted on the actual salary paid each month, not on an average basis. The Tribunal agreed, noting that s. 192(3) allows adjustments in tax deductions based on previous deductions. Citing relevant cases, the Tribunal ruled that interest under s. 201(1A) was not justified when tax shortfalls were rectified within the financial year. As a result, no interest was chargeable in the present case, and the appeals were dismissed. Case-Laws Income Tax Thu, 09 Nov 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55986