https://www.taxtmi.com/caselaws?id=22719 Deductibility of interest on delayed electricity bill payments could not be finally determined because the record did not disclose the statutory or regulatory basis for the charge. The Court noted that the relevant provision had not been placed before it and that the materials were insufficient to decide whether the interest was penal in nature or an admissible business deduction. In these circumstances, it declined to answer the referred questions and directed the Tribunal to restore the appeal and examine the issue afresh. en-us Fri, 06 Jul 1990 00:00:00 +0530 Sat, 12 Dec 2009 15:15:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22719 Deductibility of interest on delayed electricity bill payments could not be finally determined because the record did not disclose the statutory or regulatory basis for the charge. The Court noted that the relevant provision had not been placed before it and that the materials were insufficient to decide whether the interest was penal in nature or an admissible business deduction. In these circumstances, it declined to answer the referred questions and directed the Tribunal to restore the appeal and examine the issue afresh. Case-Laws Income Tax Fri, 06 Jul 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22719