https://www.taxtmi.com/caselaws?id=306201 The ITAT allowed the appeal, overturning the disallowance of interest on delayed TDS payment. It held that such interest is compensatory in nature and qualifies as an allowable expenditure under the Income-tax Act, 1961, based on established case laws supporting deductibility of such payments. The decision was in favor of the assessee, setting aside lower authorities' orders. en-us Wed, 05 Jan 2022 00:00:00 +0530 Mon, 16 Jan 2023 20:34:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306201 The ITAT allowed the appeal, overturning the disallowance of interest on delayed TDS payment. It held that such interest is compensatory in nature and qualifies as an allowable expenditure under the Income-tax Act, 1961, based on established case laws supporting deductibility of such payments. The decision was in favor of the assessee, setting aside lower authorities' orders. Case-Laws Income Tax Wed, 05 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306201