https://www.taxtmi.com/caselaws?id=245019 The Court upheld the Tribunal's decision, ruling that interest under sections 215 or 217 of the Income Tax Act should be considered part of the liability to pay tax and deductible when computing chargeable profits under the Companies (Profits) Surtax Act, 1964. The Department's challenge was dismissed, affirming that interest accrued on delayed tax payment is distinct from penalty and should be treated as part of income tax liability. en-us Tue, 11 Mar 2014 00:00:00 +0530 Sat, 15 Mar 2014 17:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245019 The Court upheld the Tribunal's decision, ruling that interest under sections 215 or 217 of the Income Tax Act should be considered part of the liability to pay tax and deductible when computing chargeable profits under the Companies (Profits) Surtax Act, 1964. The Department's challenge was dismissed, affirming that interest accrued on delayed tax payment is distinct from penalty and should be treated as part of income tax liability. Case-Laws Income Tax Tue, 11 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245019