Case Law Details
Case Name : Living Liquidz SM Trades LLP Vs Assessing Officer (ITAT Mumbai)
Related Assessment Year : 2018-19
Courts :
All ITAT ITAT Mumbai
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Living Liquidz SM Trades LLP Vs Assessing Officer (ITAT Mumbai)
ITAT Mumbai held that disallowance of interest expenditure paid u/s. 201(1A) of the Income Tax Act on late payment of TDS is penal in nature and not compensatory.
Facts- The assessee has challenged the assessment order passed u/s. 143(3) of the Act as invalid and bad in law and has also challenged the disallowance of operative expenses of Rs.15,29,595/- and interest paid on late payment of TDS amounting to Rs.12,980/-debited to profit and
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