Interest on delayed payment of TDS not penal in nature & allowable expense

Harcharan Dass Gupta Vs DCIT (ITAT Delhi)

ITAT held that the interest paid on delayed payment of TDS by the assessee u/s 201(1A) r.w.s. 206C(7) of the Act cannot be held as penal in nature and, thus, incurred out of commercial expediency and, therefore, is allowable u/s 37 of the Act.

No addition for duly explained Capital introduced by partner in Pa

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