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(Querist)
17 September 2010 Whether Interest paid on VAT/Sales Tax is allowed as an expense?
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
17 September 2010 Interest paid on sales tax arrears is deductible - Interest paid by the assessee to the Sales-tax Department on arrears of sales tax is an admissible deduction under section 37(1) - Lachmandas Mathuradas v. CIT [2002] 254 ITR 799/122 Taxman 828(SC)/CIT v. Western India State Motors [1987] 167 ITR 395 (Raj.)/CIT v. Western Indian State Motors [1988] 174 ITR 116 (Raj.).
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Praveen Sharma

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Praveen Sharma (Expert)
18 September 2010 agree with Aditya.

Regards
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