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Interest u/s 234b and C allowablity

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Querist : Anonymous (Querist)
12 February 2011 Interest u/s 234B,234C and 244 A(3) is allowable as deduction under PGBP ?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
12 February 2011 Payment of income-tax is not deductible as per section 40(a)(ii), hence, interest under sections 139, 215 and 217 which is to be regarded as accretion to tax, cannot also be allowed to be deducted.
Citation :- Assam Forest Products (P.) Ltd. V. CIT [1989] 180 ITR 478 (Gau).

On the same analogy, interest payable under sections 234A, 234B or 234C are also not deductible.
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