https://www.taxtmi.com/caselaws?id=306401 The Appellate Tribunal upheld the disallowance of interest on late deposit of TDS under section 40(a)(ia) of the Income Tax Act, 1961 for the assessment year 2013-14. The Tribunal dismissed the appeal, citing precedents from various High Courts, including Calcutta, Bombay, and Madras, which held that such interest is not deductible as a business expenditure. The decision was in line with the rulings of the cited cases, concluding that the interest on late TDS deposit is not allowable under the Income Tax Act, 1961. en-us Wed, 12 Sep 2018 00:00:00 +0530 Fri, 27 Jan 2023 20:17:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306401 The Appellate Tribunal upheld the disallowance of interest on late deposit of TDS under section 40(a)(ia) of the Income Tax Act, 1961 for the assessment year 2013-14. The Tribunal dismissed the appeal, citing precedents from various High Courts, including Calcutta, Bombay, and Madras, which held that such interest is not deductible as a business expenditure. The decision was in line with the rulings of the cited cases, concluding that the interest on late TDS deposit is not allowable under the Income Tax Act, 1961. Case-Laws Income Tax Wed, 12 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306401