Court held that the Tribunal was right in holding that an order under section 201(1) was mandatory for levying of compensatory interest under section 201(1A) for the delay in remittance of the tax deducted at source and deleting the interest. ( AY.1995-96)
CIT(LTU) v. Asea Brown Boveri Ltd. (2020) 427 ITR 166 /192 DTR 376/ 272 Taxman 224 (Karn)(HC)
S. 201 : Deduction at source – Failure to deduct or pay -Levy of compensatory interest — Order treating assessee as in default mandatory [ S.201(1) , 201(IA) ]