2003 (8) TMI 34 - HC - Income Tax

This writ petition has been filed for revision of the interest amount and also challenging the order under section 201(1A) of the Income-tax Act, 1961 - whether under the said provision where the tax has been deducted at source (TDS), but it is deposited at a belated stage, the interest payable is simple or compound? And further question arises as to whether in the facts and circumstances of the case, interest could be charged at all? - held that if a statute provides for the remedy of revision, the writ petition is not maintainable

Summary

The High Court of Allahabad dismissed a writ petition challenging an order under section 201(1A) of the Income-tax Act, 1961, regarding interest amount revision. The court ruled that the writ petition was not maintainable as revision was possible under section 264 of the Act. The petitioner was given liberty to file a revision before the Commissioner of Income-tax within a month.