2001 (2) TMI 263 - AT - Income Tax

Summary

The Appellate Tribunal ITAT Bangalore upheld the decision of the Assessing Officer to charge interest under section 201(1A) on a firm for not deducting tax at source on interest payment, rejecting the firm's argument that partners, as individuals, were responsible for the payment. The Tribunal ruled that the firm, as a separate entity, was obligated to deduct tax at source, and dismissed the appeal. (Case citation: 2001 (2) TMI 263 - ITAT BANGALORE)