https://www.taxtmi.com/highlights?id=18809 Penalty u/s 271(1)(c) - If income-tax itself is not a permissible deduction u/s 37, any interest payable for default committed by the assessee in discharging his statutory obligation under the Act, which is calculated with reference to the tax on income cannot be allowed as a deduction - penalty confirmed - AT en-us Sat, 07 Jun 2014 17:16:21 +0530 Sat, 07 Jun 2014 17:16:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=18809 Penalty u/s 271(1)(c) - If income-tax itself is not a permissible deduction u/s 37, any interest payable for default committed by the assessee in discharging his statutory obligation under the Act, which is calculated with reference to the tax on income cannot be allowed as a deduction - penalty confirmed - AT Highlights Income Tax Sat, 07 Jun 2014 17:16:21 +0530 https://www.taxtmi.com/highlights?id=18809