Case Law Details
Case Name : Madhya Gujarat Vij Co. Ltd. Vs. Income-tax Officer (ITAT Ahemdabad)
Related Assessment Year : 2004- 05
Courts :
All ITAT ITAT Ahmedabad
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Madhya Gujarat Vij Co. Ltd. (ITAT Ahmedabad)- Section 192(3) of the Act enables the employer to make adjustment of any excess or deficiency arising out of previous deduction or failure to deduct during the tax year. If there are bona fide reasons for short deduction in the earlier months and the same is made good immediately after noticing such shortfall, then section 192(3) would save the employer from interest liability for short deduction of taxes.
If an employer has casually deducted taxes and resorted to
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