Interest paid on sales tax under amnesty scheme is allowable as business expenditure

IN THE ITAT AHMEDABAD BENCH ‘B’ Deepak Nitrite Ltd. versus Deputy Commissioner of Income-tax IT Appeal No. 50 (Ahd.) of 2010 (by assessee) IT Appeal no. 470 (ahd.) of 2010 (By Department) [Assessment year 2005-06] April 20, 2012 ORDER Anil Chaturvedi, Accountant Member These are the cross appeals, one filed by the assessee and the other filed by the Revenue against the order of Ld. CIT(A)-I, Baroda dated 9-10-2009 for the Assessment Year 2005-06. 2. ITA No.50/AHD/2010 (Assessee’s Appeal) In this appeal, the assessee has taken following grounds :- “1. Th...