PLEASE TELL WHETHER INTEREST ON SERVICE TAX IS ALLOWED OR NOT IN INCOME TAX.
it is allowd
yes interest is allowed but penalties are not allowed
RIGHT SAID ABOVE.....
Penalty paid for wrong availment of cenvat credit - Is it allowed under income tax.
If Said penalty paid under protest and appeal has been filed against the order.
Penalty for wrong availment of credit may not be allowed as expense.
yes it is allowed
Thanks for ur response.
Please provide any supporting case laws (or) provisions under what section it will be allowed.
All Interest on Indirect Tax are allowed. interest on direct taxes anrdisallowed..............
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