Court Rules TDS Not Required on Unclaimed Debenture Interest for Sick Industrial Units u/s 193, Aligns with Real Income Theory.

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....TDS u/s 193 - interest on debenture credited to comply with the mandatory requirements of law - requirement of TDS cannot be stretched to unreasonable levels when interest was neither claimed by debenture holders nor paid as assessee was a sick industrial unit and referred to BIFR - canceling of demand u/s 201(1) is correct in light of principle of real income theory....