Interest on Late deposit of VAT, Service Tax, TDS are allowable Business Expenditure: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Kolkata bench has held that the interest paid by the assessee on late deposit of VAT, Service Tax, TDS etc, is not penal in nature, allowable as business expenditure under section 37(1) of the Income Tax Act, 1961. The assessee filed its return of income for the A.Y. 2014-15 […]

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