https://www.taxtmi.com/caselaws?id=58549 Damages paid under section 14B of the Employees' Provident Funds and Family Pension Fund Act, 1952, for delayed provident fund contributions were held to be penal in character, not compensatory interest. The levy arose from breach of the statutory duty to make timely contributions, and the scheme separately provided penal consequences under sections 14 and 14AA. Because section 14B depends on a discretionary determination by the Provident Fund Commissioner after hearing the employer, is not an automatic interest charge, and may extend up to the amount of arrears, the amount was treated as a penalty and not deductible. en-us Fri, 14 Oct 1983 00:00:00 +0530 Mon, 20 Dec 2010 15:36:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58549 Damages paid under section 14B of the Employees' Provident Funds and Family Pension Fund Act, 1952, for delayed provident fund contributions were held to be penal in character, not compensatory interest. The levy arose from breach of the statutory duty to make timely contributions, and the scheme separately provided penal consequences under sections 14 and 14AA. Because section 14B depends on a discretionary determination by the Provident Fund Commissioner after hearing the employer, is not an automatic interest charge, and may extend up to the amount of arrears, the amount was treated as a penalty and not deductible. Case-Laws Income Tax Fri, 14 Oct 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58549