Held that for failure on the part of the payer to deduct tax at source the assessee cannot be penalised for levy of interest . ( AY. 2021 -22) ( ITA No. 2505 /Mum/ 2024 dt . 14 -8 -2024)
Standard Chartered Bank ( Singapore ) Ltd v. DCIT(2024) BCAJ -October -P .52 ( Mum)( Trib)
S. 234C : Interest – Deferment of advance tax -Failure of the payer to deduct tax source – Interest on certain bonds and Government securities – Assessee can not be penalised by levy of interest . [ S. 143(1), 194LD ]
Leave a Reply