Late TDS Deposit Interest not deductible as Business Expenditure

Shiva Pharmachem Ltd Vs DCIT (ITAT Ahmedabad)

Introduction: The case of Shiva Pharmachem Ltd vs. DCIT was brought before the Income Tax Appellate Tribunal (ITAT) Ahmedabad, addressing issues related to disallowances under section 14A of the Income Tax Act, 1961, Deduction under section 36(1)(va) for delayed deposit of employee’s contribution to PF and disallowances of Interest paid under section 201(1A) of Income Tax Act for late deposit of TDS.

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