Interest on Late Service Tax Payment Allowed as Deduction by CIT(A): Recognized as Compensatory, Not Penal.

Interest on Late Service Tax Payment Allowed as Deduction by CIT(A): Recognized as Compensatory, Not Penal. https://www.taxtmi.com/highlights?id=58829 Disallowance of expenses on account of interest on late payment of service tax - CIT(A) deleted the disallowance holding that the interest on late payment of service tax is compensatory in nature - interest paid for late deposit of the service tax is a permissible deduction - AT en-us Sat, 17 Jul 2021 23:14:22 +0530 Sat, 17 Jul 2021 23:14:22 +0530 TaxTMI RSS Generator Interest on Late Service Tax Payment Allowed as Deduction by CIT(A): Recognized as Compensatory, Not Penal. https://www.taxtmi.com/highlights?id=58829 Disallowance of expenses on account of interest on late payment of service tax - CIT(A) deleted the disallowance holding that the interest on late payment of service tax is compensatory in nature - interest paid for late deposit of the service tax is a permissible deduction - AT Highlights Income Tax Sat, 17 Jul 2021 23:14:22 +0530 https://www.taxtmi.com/highlights?id=58829