https://www.taxtmi.com/circulars?id=5067 Statutory interest on delayed payments to small scale and ancillary industrial suppliers, compounded monthly and payable from the appointed day or next day after the agreed date at a rate above bank lending rates, is expressly excluded from deduction for income computation; Assessing Officers must ascertain and disallow such inadmissible interest claims in buyers' assessments. en-us Fri, 11 Jun 1993 00:00:00 +0530 Sat, 09 Aug 2008 11:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=5067 Statutory interest on delayed payments to small scale and ancillary industrial suppliers, compounded monthly and payable from the appointed day or next day after the agreed date at a rate above bank lending rates, is expressly excluded from deduction for income computation; Assessing Officers must ascertain and disallow such inadmissible interest claims in buyers' assessments. Circulars Income Tax Fri, 11 Jun 1993 00:00:00 +0530 https://www.taxtmi.com/circulars?id=5067