Interest Paid on Belated Service Tax Payments is Allowable under section 37(1)

Prince Holdings Madras (P) Ltd Vs DCIT (ITAT Chennai)

Interest paid on belated payments of service tax is allowable for deduction u/s 37(1) IT Act

The Income Tax Appellate Tribunal, Chennai (“the ITAT”) in Prince Holdings Madras (P) Ltd v. Deputy Commissioner of Income Tax [ITA No.: 524/Chny/2021 dated November 2, 2022] held that the interest paid on belated payments of service tax is allowable for deduction under Secti

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