2014 (7) TMI 518

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....rder dated 25th Feb 2013 of the CIT(A)-III, Kochi and its relates to the AY 2011-12. The grievance of the assessee in this appeal is in regard to the levy of interest u/s 201(1) and 201(1A) of the Act to the tune of Rs. 10,42,395/- by the CIT. 2. The brief fats relating to the issue in this appeal is that the assessee is a firm engaged in the business of production of television programmes, TV se....

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....redit of such sum to the account of the payee or at the time of payment whichever is earlier. Further it was observed by the AO that the CBDT has also clarified the above position of law in respect of similar nature of payment falling within the purview of section 194C of the Act. According to the AO, the advance payments are also liable for TDS and accordingly, the explanation of the assessee in ....

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.... demand now. According to the AO, if a deductor who is required to deduct any sum in accordance with the provisions of the Actdoes not deduct or does not pay or after deducting fails to pay the whole or any part of the tax as required under the Act, he is deemed to be an assessee in default. The AO held that the assessee in default in respect of the amount of tax failed to deduct and paying the ta....

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....gs it has been deposited in the Central Government Account. The ld DR relied on the orders of the lower authorities. 4. We have considered the rival contention. As pleaded by the ld AR the assessee, if the tax deducted and the amount deposited into the Government account, the due credit shall be given to that extent. Further, if the details produced in respect of the recipients and the recipient ....