Interest on Delayed TDS Deposits Not Deductible as Business Expense u/s 37(1) of Income Tax Act.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Disallowance of interest paid on late deposit of TDS - the interest paid by the assessee for delayed payment of TDS in respect of statutory liabilities and thus this interest amount cannot be treated as business expenditure u/s 37(1) - AT....