TaxTMI 
TaxTMI 
2004 (12) TMI 76
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....ct, the officers of the petitioner company are required to deduct income-tax from the salaries payable to its employees and deposit the same in the Income-tax Department. Under section 194C of the said Act, the officers of the petitioner company are required to deduct income-tax payable to sub-contractors and deposit the same with the Income-tax Department. Since in respect of the employees and the sub-contractors engaged in the project undertaken by the petitioner at Balasore, deductions as provided in section 192 and section 194C of the Income-tax Act, 1961, were not made and deposited within the Income-tax Office at Balasore, the Income-tax Officer (TDS)-cum-Tax Recovery Officer, Balasore, passed an order under section 201 of the said Ac....
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.... of tax along with interest at 15 per cent. per annum for the period of default as under: Rs. TDS made during this year till November, 2003, as furnished 22,74,470 Interest at 15 per cent. per annum for the period default works out to 3,41,170 Total amount comes to 26,15,640 In case of failure in depositing the said amount of tax and interest within 27 February 2004, you will be liable for penalty proceedings as per the Income-tax Act, 1961. Issue demand notice, challan and copy of this order. (Sd.) K. Naik, Income-tax Officer (TDS)-cum-Tax Recovery Officer, Balasore." Aggrieved by the aforesaid order dated February 25, 2004, passed by the Income-tax Officer (TDS)-cum-Tax Recovery Officer, Balasore, the petitioner h....
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....TDS), Kolkata, which is to the following effect. "Affidavit I, Sri C. Deepak Singh s/o Sri Amuba Singh holding the charge of Assistant Commissioner of Income-tax, Circle-58 (TDS), Kolkata, Assessing Officer of Larsen and Toubro Ltd., having Kolkata regional office at Park Plaza, 71, Park Street, Kolkata-16, solemnly affirm and declare 1. That Larsen and Toubro Ltd., has deducted and deposited tax at source at Kolkata on salary and sub-contractor payments made at Balasore, Orissa, during the period 1-4-2003, to 30-11-2003, the TDS amounts being as under: Section under Income-tax Act Amounts deducted and deposited (Rs.) 192 4,52,316 194C 24,74,470 2. That Larsen and Toubro Ltd., is having TAN as CALL00263E obtained fro....