https://www.taxtmi.com/highlights?id=50629 Deduction of expenditure u/s 37(1) - It is settled position of law that interest on delay in payment of tax is also part and parcel of tax and it is equally settled position of law that Service Tax paid is also a permissible deduction. - interest is only of compensatory nature and does not take a colour of penalty. en-us Mon, 09 Dec 2019 13:31:08 +0530 Mon, 09 Dec 2019 13:31:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=50629 Deduction of expenditure u/s 37(1) - It is settled position of law that interest on delay in payment of tax is also part and parcel of tax and it is equally settled position of law that Service Tax paid is also a permissible deduction. - interest is only of compensatory nature and does not take a colour of penalty. Highlights Income Tax Mon, 09 Dec 2019 13:31:08 +0530 https://www.taxtmi.com/highlights?id=50629