TaxTMI 
TaxTMI 
2019 (4) TMI 1233
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....e Respondent ORDER P.C.:­ 1. These appeals arise out of the common judgment of the Income Tax Appellate Tribunal filed by the revenue. 2. Following questions are presented for our consideration:­ "I. Whether on the facts and in the circumstances of the case and in law, the Tribunal was right in allowing relief to the assessee relating to non deduction of tax at source ....
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....time of payment thereof in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct income tax at the rates in force on the amount of interest payable?" III. Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in deleting the addition on the ground that assessee has not claimed any deduction in respect of interes....
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....ing that the assessee is not in default u/s 201(1) for non deduction of tax in respect of interest on debenture as required under section 193 and that the assessee is not liable for levy of interest under section 201(1A)?" 3. Though multiple questions are framed, issue is single namely correctness of the action of the Assessing Officer to hold that the assessee had failed to deduct tax at sourc....
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....ver paid and in fact the assessee did not even claim the same as expenditure. The Tribunal in appeal further elaborated this aspect. Noticing that the assessee was a sick company and was before BIFR. In view of the financial condition, the assessee had not paid interest to these financial institutions. However, liability was provided only in the accounts for compliance of the requirements under th....