Interest paid on belated payments of service tax is allowable for deduction u/s 37(1) IT Act
Last updated: 20 December 2022
Court :
ITAT Chennai
Brief :
The Income Tax Appellate Tribunal, Chennai ("the ITAT") in Prince Holdings Madras (P) Ltd v. Deputy Commissioner of Income Tax [ITA No.: 524/Chny/2021 dated November 2, 2022] held that the interest paid on belated payments of service tax is allowable for deduction under Section 37(1) of the Income Tax Act, 1961 ("the IT Act").
Citation :
ITA No.: 524/Chny/2021 dated November 2, 2022
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Bimal Jain
Published in Income Tax
Views : 110
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