https://www.taxtmi.com/caselaws?id=202478 Interest statutorily payable for delayed remittance of provident fund contributions is treated as part of the provident fund liability for Section 43B purposes. Although the interest is compensatory rather than penal, it arises from delayed payment of the underlying provident fund dues and therefore assumes the character of that obligation. On that basis, deduction is available only on actual payment. The court answered the questions of law for the Revenue, restored the disallowance, and allowed the appeals. en-us Fri, 19 Nov 2010 00:00:00 +0530 Sun, 27 Mar 2011 10:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202478 Interest statutorily payable for delayed remittance of provident fund contributions is treated as part of the provident fund liability for Section 43B purposes. Although the interest is compensatory rather than penal, it arises from delayed payment of the underlying provident fund dues and therefore assumes the character of that obligation. On that basis, deduction is available only on actual payment. The court answered the questions of law for the Revenue, restored the disallowance, and allowed the appeals. Case-Laws Income Tax Fri, 19 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202478