https://www.taxtmi.com/caselaws?id=56082 The Tribunal dismissed the appeal, upholding the disallowance of interest paid under section 220(2) for non-payment of income tax. The appellant's arguments, citing legal precedents and interpretations, were countered by the Departmental Representative, emphasizing that interest is part of tax and not deductible under section 40(ii). The Tribunal rejected the appellant's claims, stating that the Income-tax Act's purpose is to levy and collect tax on income, not to substitute interest on unpaid tax for the tax itself. Additionally, the Tribunal rejected the disallowance of Rs.300, which the appellant did not press. en-us Thu, 05 Oct 1989 00:00:00 +0530 Wed, 01 Dec 2010 15:07:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56082 The Tribunal dismissed the appeal, upholding the disallowance of interest paid under section 220(2) for non-payment of income tax. The appellant's arguments, citing legal precedents and interpretations, were countered by the Departmental Representative, emphasizing that interest is part of tax and not deductible under section 40(ii). The Tribunal rejected the appellant's claims, stating that the Income-tax Act's purpose is to levy and collect tax on income, not to substitute interest on unpaid tax for the tax itself. Additionally, the Tribunal rejected the disallowance of Rs.300, which the appellant did not press. Case-Laws Income Tax Thu, 05 Oct 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56082