2004 (11) TMI 305

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..... After hearing rival submissions and on perusal of material available on record, it appears that the AO has charged the interest by mentioning that the responsible person has deducted tax short. The CIT(A) has confirmed the order by mentioning that: "...because tax deducted during the financial year should be equal to the tax deductible during the year and then only the contention of the appella .....

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..... rly tax this is relevant, but by virtue of sub-s. (3) which allows adjustment on account of excess or deficiency, the amount of tax deductible each month need not necessarily be uniform. Therefore, the variations being on this account, the AAC was justified in holding that no interest was leviable." 4. In the instant case, in the last month, the tax was deducted on higher side as the increments .....

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