https://www.taxtmi.com/forum/issue?id=2260 Authoritative precedent treats interest payable under income tax provisions, including interest on delayed TDS remittance, as not an allowable expenditure. This position, adopted by higher courts and cited in the decision in Bharat Commerce & Industries Ltd. v. CIT, characterises such interest as a tax consequence rather than an expense deductible against income. en-us Sun, 26 Sep 2010 18:21:17 +0530 Thu, 23 Jan 2025 15:58:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=2260 Authoritative precedent treats interest payable under income tax provisions, including interest on delayed TDS remittance, as not an allowable expenditure. This position, adopted by higher courts and cited in the decision in Bharat Commerce & Industries Ltd. v. CIT, characterises such interest as a tax consequence rather than an expense deductible against income. Discussion-Forum Income Tax Sun, 26 Sep 2010 18:21:17 +0530 https://www.taxtmi.com/forum/issue?id=2260