https://www.taxtmi.com/caselaws?id=14952 The court held that the interest payable on belated royalty payments to the Forest Department was an admissible deduction under section 37(1) of the Income-tax Act, 1961. The decision favored the assessee, emphasizing the compensatory nature of the interest and its alignment with business expenditures. The court disposed of the reference in favor of the assessee, with no costs awarded. en-us Tue, 09 May 2000 00:00:00 +0530 Mon, 27 Jul 2009 12:44:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14952 The court held that the interest payable on belated royalty payments to the Forest Department was an admissible deduction under section 37(1) of the Income-tax Act, 1961. The decision favored the assessee, emphasizing the compensatory nature of the interest and its alignment with business expenditures. The court disposed of the reference in favor of the assessee, with no costs awarded. Case-Laws Income Tax Tue, 09 May 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14952