Disallowance u/s 40(a)(ii) - interest on service tax - not a tax levied on the profits/gains of any...

Disallowance u/s 40(a)(ii) - interest on service tax - not a tax levied on the profits/gains of any business or profession hence not disallowable u/s 40(a)(ii) - interest on delayed deposit of service tax is compensatory in nature and not penal - duly allowable u/s 37(1) .....

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