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Interest on delayed payment of tds is allowable or not??

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(Querist)
17 August 2012 Dear Friends,

I have one query regarding Interest on delayed payment of TDS. Whether interest paid on such delayed payment of TDS u/s 201 of Income Tax Act is allowable business expenditure or not.

Please give me relevant case laws/ High Court judgements (latest) if any.

Regards,

Mandar
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Amol S Joglekar

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Amol S Joglekar (Expert)
17 August 2012 interest per se are not pecuniary in nature and hence can be allowed subject to however sec 43B. Penalty in whatever form can not be allowed.
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