Interest on overdue payments not deductible under Income-tax Act

The High Court of Bombay dismissed the appeal on the deductibility of interest received on overdue payments in business under section 80HHC of the Income-tax Act, 1961, stating no substantial question of law was involved. The appeal was dismissed with no order as to costs.

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The High Court of Bombay dismissed the appeal regarding the deductibility of interest received on overdue payments in business under section 80HHC of the Income-tax Act, 1961. The court cited previous judgments and ruled that no substantial question of law was involved in the case. The appeal was dismissed with no order as to costs.

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