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Interest on Delayed Agricultural Tax Payment not allowable: Kerala HC
Case Law Details
- Case Name
- Aspinwall And Company Limited Vs CIT (Kerala High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All High Courts, Kerala High Court
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Aspinwall And Company Limited Vs CIT (Kerala High Court)
The appeal before the Kerala High Court concerns the assessee’s challenge to an order dated 19.05.2020 of the Income Tax Appellate Tribunal, Cochin Bench, relating to the assessment year 2012-13. During scrutiny under Section 143(3) of the Income Tax Act, 1961, the Assessing Officer observed that the assessee had paid interest amounting to Rs.94,00,179 on delayed remittance of Agricultural Income Tax (AIT). Holding that the interest was not deductible, the Assessing Officer invoked Section 40(a)(ii) of the Income Tax Act read with Rule...
