https://www.taxtmi.com/caselaws?id=24776 Interest paid for delayed non-payment of purchase tax under the U.P. Sugarcane (Purchase Tax) Act, 1961 was treated as compensatory rather than penal in nature. Applying the Supreme Court principle on interest under sugarcane cess legislation, the amount was therefore held to be an admissible deduction for income-tax purposes. en-us Wed, 11 May 1988 00:00:00 +0530 Fri, 22 Jan 2010 12:33:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24776 Interest paid for delayed non-payment of purchase tax under the U.P. Sugarcane (Purchase Tax) Act, 1961 was treated as compensatory rather than penal in nature. Applying the Supreme Court principle on interest under sugarcane cess legislation, the amount was therefore held to be an admissible deduction for income-tax purposes. Case-Laws Income Tax Wed, 11 May 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24776