https://www.taxtmi.com/caselaws?id=12031 The court ruled in favor of the Revenue, holding that interest payable to the Sales Tax Department is considered an allowable deduction. The court found the Assessing Officer's order erroneous for disallowing the claim of unpaid interest under section 43B of the Income-tax Act. The court emphasized that section 43B aims to prevent taxpayers from claiming deductions for statutory liabilities not discharged promptly, upholding the decision that interest paid is part of the sales tax and should be considered for deduction. en-us Mon, 16 Sep 2002 00:00:00 +0530 Mon, 13 Jan 2014 18:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12031 The court ruled in favor of the Revenue, holding that interest payable to the Sales Tax Department is considered an allowable deduction. The court found the Assessing Officer's order erroneous for disallowing the claim of unpaid interest under section 43B of the Income-tax Act. The court emphasized that section 43B aims to prevent taxpayers from claiming deductions for statutory liabilities not discharged promptly, upholding the decision that interest paid is part of the sales tax and should be considered for deduction. Case-Laws Income Tax Mon, 16 Sep 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12031