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Interest on Late VAT and TDS Payments is Compensatory, Not Penal; CIT(A) Correctly Removes Disallowance of Interest Expenditure.

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....Interest on delayed payment of VAT and TDS is only compensatory and is not penal in nature. Therefore, the CIT(A) has correctly deleted the disallowance made for the interest expenditure claimed on delayed payment of VAT and TDS.....

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