https://www.taxtmi.com/caselaws?id=25680 The High Court of Rajasthan held that interest paid by the assessee to the Sales Tax Department on arrears of sales tax is deductible under section 37 of the Income-tax Act, 1961, based on precedent. The court referred to a previous case and followed the decision that interest paid on sales tax collections withheld and used for business purposes is admissible as a deduction. The court ruled in favor of the assessee, allowing the deduction for the interest paid to the Sales Tax Department. en-us Wed, 24 Sep 1986 00:00:00 +0530 Sat, 30 Jan 2010 11:42:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25680 The High Court of Rajasthan held that interest paid by the assessee to the Sales Tax Department on arrears of sales tax is deductible under section 37 of the Income-tax Act, 1961, based on precedent. The court referred to a previous case and followed the decision that interest paid on sales tax collections withheld and used for business purposes is admissible as a deduction. The court ruled in favor of the assessee, allowing the deduction for the interest paid to the Sales Tax Department. Case-Laws Income Tax Wed, 24 Sep 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25680