https://www.taxtmi.com/caselaws?id=374094 The Appellate Tribunal partially allowed the appeal against the Commissioner of Income Tax (Appeals)-7, Mumbai's order for AY 2009-10. The Tribunal upheld the disallowance of interest payments under sections 234B, 234C, and 234D, stating that interest on tax was not deductible under Section 37. However, it directed the Assessing Officer to reconsider the exclusion of interest for the subsequent year and allowed the deduction for late payment of TDS. The Tribunal's decision was based on the compensatory nature of the interest payments and concluded that they were not an allowable deduction under Section 37(1) or Section 36(1)(iii). en-us Tue, 11 Dec 2018 00:00:00 +0530 Fri, 06 Mar 2026 12:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374094 The Appellate Tribunal partially allowed the appeal against the Commissioner of Income Tax (Appeals)-7, Mumbai's order for AY 2009-10. The Tribunal upheld the disallowance of interest payments under sections 234B, 234C, and 234D, stating that interest on tax was not deductible under Section 37. However, it directed the Assessing Officer to reconsider the exclusion of interest for the subsequent year and allowed the deduction for late payment of TDS. The Tribunal's decision was based on the compensatory nature of the interest payments and concluded that they were not an allowable deduction under Section 37(1) or Section 36(1)(iii). Case-Laws Income Tax Tue, 11 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374094