https://www.taxtmi.com/caselaws?id=751888 Prima facie adjustment under section 143(1)(a)(iv) may be made where a claim is shown as inadmissible from the return and tax audit report, including unpaid interest liabilities disclosed on record. Compensatory interest for delayed payment of MVAT is treated as interest, not tax, duty, cess or fee, so it is outside section 43B(a) and remains allowable as business expenditure under section 37(1). Interest under sections 234A, 234B and 234C is mandatory according to settled precedent. en-us Wed, 24 Apr 2024 00:00:00 +0530 Fri, 30 Aug 2024 14:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751888 Prima facie adjustment under section 143(1)(a)(iv) may be made where a claim is shown as inadmissible from the return and tax audit report, including unpaid interest liabilities disclosed on record. Compensatory interest for delayed payment of MVAT is treated as interest, not tax, duty, cess or fee, so it is outside section 43B(a) and remains allowable as business expenditure under section 37(1). Interest under sections 234A, 234B and 234C is mandatory according to settled precedent. Case-Laws Income Tax Wed, 24 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751888