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In the case of CIT v. Rishikesh Apartments Co-op. Housing Society Ltd. (119TAX239) the assessee failed to deduct tax u/s 194 C. But it was found that the contractor on the other hand had paid the advance tax and self-assessment tax over and above the tax payable thereby not causing any loss to the revenue. The Gujarat High Court held that in such cases if the revenue is permitted to levy interest u/s 201(1A) even in a case where the person liable to tax has paid tax on due date, the revenue would derive undue benefit by getting interest on the amount of tax which had already been paid on the due date. Such a position cannot be permitted.

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