https://www.taxtmi.com/caselaws?id=58745 Damages and interest imposed under section 14B of the Employees' Provident Funds and Family Pension Funds Act for delayed remittance of provident fund dues were treated as non-deductible business expenditure. The analysis distinguished such liability from statutory interest that accrues automatically, noting that section 14B damages arise only from a specific order of the competent authority for default in timely payment and may contain both compensatory and penal elements. On that basis, the interest component was viewed as a civil sanction for breach of the law and the deduction claim was rejected. en-us Sat, 17 Jul 1982 00:00:00 +0530 Tue, 21 Dec 2010 17:53:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58745 Damages and interest imposed under section 14B of the Employees' Provident Funds and Family Pension Funds Act for delayed remittance of provident fund dues were treated as non-deductible business expenditure. The analysis distinguished such liability from statutory interest that accrues automatically, noting that section 14B damages arise only from a specific order of the competent authority for default in timely payment and may contain both compensatory and penal elements. On that basis, the interest component was viewed as a civil sanction for breach of the law and the deduction claim was rejected. Case-Laws Income Tax Sat, 17 Jul 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58745