Deduction u/s 37(1) not allowable on interest paid on late payment of TDS

Analogics Tech India Limited Vs DCIT (ITAT Hyderabad)

ITAT Hyderabad held that interest payment on late payment of TDS is not compensatory in nature and is not allowable as deduction u/s 37(1) of the Income Tax Act.

Facts- Assessee company was selected for complete scrutiny under CASS for the reason of “large expenditure by way of penalty or fine for violation of any law for the time being in force.” During the course of the relevant financial year, the assessee was en

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