https://www.taxtmi.com/caselaws?id=66382 The Tribunal allowed the assessee's appeal, ruling that the interest payment was compensatory and not penal. Therefore, section 43B of the Income-tax Act did not apply, leading to the deletion of the disallowance initially made by the Assessing Officer and upheld by the CIT(A). The appeal was decided in favor of the assessee. en-us Thu, 31 Aug 2006 00:00:00 +0530 Thu, 24 Feb 2011 11:59:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66382 The Tribunal allowed the assessee's appeal, ruling that the interest payment was compensatory and not penal. Therefore, section 43B of the Income-tax Act did not apply, leading to the deletion of the disallowance initially made by the Assessing Officer and upheld by the CIT(A). The appeal was decided in favor of the assessee. Case-Laws Income Tax Thu, 31 Aug 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66382