1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.227 OF 2008 M/s.Uniflex Cables Ltd. ...Appellant vs. Commissioner of Income Tax-TDS. ...Respondent. --- Mr.Balkishan Zaveri with Kishore Jain i/b. Tushar Goradia & Nisha Parmar, for Appellant. None for Respondent. CORAM: D.K.DESHMUKH & J.P.DEVADHAR, JJ. DATED: 18TH July, 2008. P.C.:- 1. Heard the learned Counsel appearing for appellant. Admit, on the following questions of law:- (a) Whether on the facts and in the circumstances of the case the Appellate Tribunal was justified in law in confirming the levy of interest u/s.201(1A) of the Act even though the provisions of 2 section 194A of the Act are not applicable in respect of interest paid on debentures to IDBI which is a financial corporation established under the Central Act ? (b) Whether on the facts and in the circumstances of the case, the Appellate Tribunal was justified in law in confirming the levy of interest u/s.201(1A) of the Act, till the date of filing of the return by the deductee for the respective years ignoring the fact that the first installment of interest was paid on 1st July,1999 on which the deductee has paid advanced tax in three installments and the second and the third installments of interest were paid on 1st January,2000 and 31st March,2000 respectively on which the deductee paid advanced tax in full as provided in section 211 of the Act ? (c) Whether on the facts and in the circumstances of the case, the Appellate Tribunal was justified in law in confirming the levy of interest u/s.201(1A) of the Act, till the date of filing of the return by the deductee for the respective years ignoring the fact that the appellant was under the bonafide belief that it is not required to deduct tax 3 at source when interest is credited to a Semi- Government or a Government body and therefore, the appellant is not an assessee in default within the meaning of section 201(1) of the Act ? (D.K.DESHMUKH, J.) (J.P.DEVADHAR, J.) ---