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Interest on delayed TDS payment is not an allowable business deduction
Case Law Details
- Case Name
- Expat Engineering India Ltd. Vs ACIT (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Bangalore
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Expat Engineering India Ltd. Vs ACIT (ITAT Bangalore)
In a recent case, Expat Engineering India Ltd. faced a challenge regarding the disallowance of interest on delayed Tax Deducted at Source (TDS) payment. The Income Tax Appellate Tribunal (ITAT) in Bangalore, while considering Ground Nos. 3 & 4, explored whether the interest paid on late payment of TDS is a deductible business expense. Let’s delve into the details of the case and the Tribunal’s decision.
Case Background: Expat Engineering India Ltd. argued that the interest paid on late TDS payment is not in...
