https://www.taxtmi.com/caselaws?id=431808 The Appellate Tribunal allowed the appeal filed by the investment company, overturning the decision of the Commissioner of Income Tax (Appeals) regarding the disallowance of interest on service tax under section 37(1) of the Income Tax Act. The Tribunal held that the interest on belated service tax payments is compensatory and not a penalty, thus directing the deletion of the disallowance. The order was pronounced in Chennai on 2nd November 2022. en-us Wed, 02 Nov 2022 00:00:00 +0530 Thu, 22 Dec 2022 08:43:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431808 The Appellate Tribunal allowed the appeal filed by the investment company, overturning the decision of the Commissioner of Income Tax (Appeals) regarding the disallowance of interest on service tax under section 37(1) of the Income Tax Act. The Tribunal held that the interest on belated service tax payments is compensatory and not a penalty, thus directing the deletion of the disallowance. The order was pronounced in Chennai on 2nd November 2022. Case-Laws Income Tax Wed, 02 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431808