08 February 2015
Interest on tax paid under VDIS is not deductible - Interest paid by the assessee on tax paid under the Voluntary Disclosure Scheme in instalments is not deductible as interest on borrowed capital - Bharat Commerce & Industries Ltd. v. CIT [1998] 230 ITR 733/98 Taxman 151 (SC).
If you want to see the order of the above mentioned case then see link given below link: