banner_ad

The following expense disallowed or allowed

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
08 February 2014 IS INTEREST ON LATE PAYMENT OF SERVICE TAX ALLOWED OR DISALLOWED AS PER INCOME TAX ACT. ALSO MENTION RELEVANT SECTION OR RELATED CASE.
Profile Image

Bhaskaran Chackrapani Warrier

Profile Image

Bhaskaran Chackrapani Warrier (Expert)
08 February 2014 Interest payment u/s 75 of the Finance Act, 1994 has the same character as that of the service tax.

It is compensatory in nature and cannot be held to be penal in character.

Hence it is a permissible deduction under the Income tax Act,1961.

Citation :- Messee Dusseldorf India Pvt Ltd Vs DCIT [2010] TIOL 52 ITAT 9Del).
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI
ChatGPT Perplexity Claude Google AI Grok

CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details