Save Rs 499 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

banner_ad

PGBP

This query is : Resolved

Share Report Follow Query Ask a Query

Devendra (Querist)
Follow

17 September 2010 Whether Interest paid on VAT/Sales Tax is allowed as an expense?

Aditya Maheshwari

Aditya Maheshwari (Expert)
Follow

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.).

Praveen Sharma

Praveen Sharma (Expert)
Follow

18 September 2010 agree with Aditya.

Regards
P

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CCI Pro

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

CCI Pro

Meet our CAclubindia PRO Members

Pro Member CA.K.RAMAKRISHNA. PRABHU

CA.K.RAMAKRISHNA. PRABHU

Pro Member Shailesh Singh

Shailesh Singh

Pro Member Gurunathan kannan

Gurunathan kannan

Pro Member Vimlesh kumar

Vimlesh kumar

Pro Member Phani

Phani

Follow us

add to google news

Answer Query

Quick Links

Browse by Category

Latest Job Openings

View all

18 May 2026

MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details

Featured 28 May 2026

SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details

24 May 2026

Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details

11 May 2026

AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details

ARTICLESHIP 31 May 2026

Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details

26 May 2026

Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details

14 May 2026

ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details

07 May 2026

CA Assistant

amit desai and co

Mumbai

CA Final

View Details