2010 (2) TMI 17

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..... ision of ITAT upholding the deletion of addition made by the Assessing Officer of an amount of ₹ 18,02,026/- being interest payable on late deposit of provident fund under Section 43-B of the Income Tax Act is correct - . It is clear that the issue was debatable and, therefore, could not be disallowed while considering the intimation under Section 143(1)(a) of the said Act - 232/2005 - - - .....

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..... of the Income Tax Act as the same was not paid during the year? Insofar as question (a) above is concerned, we find that the issue regarding allowability of interest payable on late deposit of provident fund is a debatable issue. This conclusion of ours is fortified by the fact that the very issue is before us in ITA No.958/2007 in respect of the very year in question namely assessment year 1 .....

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