Disallowance u/s 37(1) - interest paid by the assessee u/s 30(4) ...

Interest Under MVAT Act Section 30(4) is Penal, Not Deductible Under Income Tax Act Section 37(1.

August 23, 2018

Case Laws Income Tax AT

Disallowance u/s 37(1) - interest paid by the assessee u/s 30(4) of the MVAT Act, 2002 is penal in nature as it has its germane to infraction of law by the dealer while filing original return of VAT and the interest paid u/s 30(4) of MVAT Act, 2002 cannot be allowed as deduction while computing income under the head ‘Profits and Gains of Business or Profession‘

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Disallowance u/s 37(1) - interest paid by the assessee u/s 30(4) ...

Interest Under MVAT Act Section 30(4) is Penal, Not Deductible Under Income Tax Act Section 37(1.

August 23, 2018

Case Laws Income Tax AT

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