Interest not Payable for Shortfall in TDS for cancellation of TDS certificate without intimation to deductor

Integlobe Aviation Ltd. Vs ITO (ITAT Delhi) The Delhi Bench of Income Tax Appellate Tribunal (ITAT) ruled that the bonafide assessee is not liable to pay the interest on the amount of shortfall in tax deducted at source (TDS). The Assessee, M/s. Interglobe Aviation Ltd. claimed that short deduction in case of M/s. Federal Travel and Tour Pvt. Ltd. and M/s. GMR Hyderabad International, the lower TDS certificates issued to the deductees were originally valid, but the same were cancelled thereafter, without information to the deductor, which has resulted in the deduction of tax at lower rate, und...