Interest on Late Tax Payments Allowed as Expenditure u/s 37(1), Revision Quashed, AO's View Upheld.

Interest on Late Tax Payments Allowed as Expenditure u/s 37(1), Revision Quashed, AO's View Upheld. https://www.taxtmi.com/highlights?id=47632 Revision u/s 263 - since interest on late deposit of VAT, service tax, TDS etc are allowable expenditure u/s 37(1), the AO has taken a possible view - order passed by the AO u/s 143(3) is neither erroneous nor prejudicial to the interest of Revenue and cannot be held to be unsustainable in law - revision quashed en-us Tue, 02 Jul 2019 07:38:09 +0530 Tue, 02 Jul 2019 07:38:09 +0530 TaxTMI RSS Generator Interest on Late Tax Payments Allowed as Expenditure u/s 37(1), Revision Quashed, AO's View Upheld. https://www.taxtmi.com/highlights?id=47632 Revision u/s 263 - since interest on late deposit of VAT, service tax, TDS etc are allowable expenditure u/s 37(1), the AO has taken a possible view - order passed by the AO u/s 143(3) is neither erroneous nor prejudicial to the interest of Revenue and cannot be held to be unsustainable in law - revision quashed Highlights Income Tax Tue, 02 Jul 2019 07:38:09 +0530 https://www.taxtmi.com/highlights?id=47632