https://www.taxtmi.com/caselaws?id=780798 ITAT (Delhi - AT) held that interest paid on delayed remittance of GST and VAT is compensatory, not penal, and therefore deductible for the assessee (a partnership firm acting as sales and service agent). The Tribunal followed the Supreme Court precedent treating interest on tax arrears as compensatory, allowed the deduction, and allowed the grounds raised by the assessee. en-us Fri, 04 Jul 2025 00:00:00 +0530 Thu, 06 Nov 2025 08:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780798 ITAT (Delhi - AT) held that interest paid on delayed remittance of GST and VAT is compensatory, not penal, and therefore deductible for the assessee (a partnership firm acting as sales and service agent). The Tribunal followed the Supreme Court precedent treating interest on tax arrears as compensatory, allowed the deduction, and allowed the grounds raised by the assessee. Case-Laws Income Tax Fri, 04 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780798