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Allowabiility of expenditure

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(Querist)
26 May 2017 Is late filling fees paid u/s234E and Interest on late deposit of TDS is allowable as business expenditure.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
26 May 2017 Interest on TDS is not a business expenditure. Citation:- CIT Vs. Chennai Properties & Investments Ltd 239 ITR 435 (Mad).
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CA CS Jainam Shah

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CA CS Jainam Shah (Expert)
26 May 2017 Late filling fees u/s 234e is a penalty and penalty is never allow as business expenditure.
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