Deduction of expenses u/s 37(1) - any interest paid on account ...

Case Laws Income Tax

January 25, 2019

Deduction of expenses u/s 37(1) - any interest paid on account of late payment of TDS could not be linked to the Income Tax of the assessee and therefore, the deduction thereof was available to the assessee.

View Source

← Previous Next →

Deduction of expenses u/s 37(1) - any interest paid on account ...

Case Laws Income Tax

January 25, 2019

You may also like:

The assessee claimed deduction for interest and late fees paid on account of delay in filing GST returns. The authorities disallowed the claim, invoking Explanation 1 to...

Interest paid on late payment of TDS - allowable deduction u/s 37(1) or not? - Interest on delayed payment of TDS cannot be allowed as deduction. - The interest...

Nature of expenses - Allowable expenses u/s 37(1) - Interest and late fee on TDS, Late payment & penalty charges, Interest on margin trading facility - There was no...

Deduction of interest on late deposit of TDS under Section 37(1) - payment of interest on late deposit of tax deduction at source by the assessee leviable u/s 201 (1A)...

Disallowance on account of interest payment on TDS deposited to the Income Tax Department - interest paid on late payment of TDS is compensatory in nature and is an...

Disallowance being the interest on late payment of TDS - the interest expenses claimed by the assessee on account of delayed deposit of service tax as well' as TDS...

Various issues related to allowability of expenses, deductions, transfer pricing adjustments, and other income tax matters for a pharmaceutical company. Key points are:...

The interest expenses claimed by the assessee on account of delayed deposit of service tax as well as TDS liability are allowable expenses u/s 37(1)

The assessee claimed deduction of brokerage expenses u/s 57(iii) against income from other sources. The Assessing Officer disallowed part of the expenses in proportion...

Payment made for surrender of tenancy rights - deduction allowed u/s 37(1) - AT

Income Tax: Proposed amendment to increase simple interest rate from 1% to 1.5% per month or part thereof on late payment of tax collected at source (TCS) to government...

Disallowance interest on delayed payment of service tax - It is well settled principle that interest on late payment of Service Tax is not penal in nature. Since, it is...

Deduction u/s 37(1) - Whether, payment of interest on delayed payment of instalments is penal in nature - Held No - It was simplicitor liability of interest on delayed...

Expenses under the head research and development - deduction of such expenses under the provisions of section 37(1) OR u/s 35 - the genuineness of the expenses cannot be...

Disallowance of interest paid on late deposit of TDS - the interest paid by the assessee for delayed payment of TDS in respect of statutory liabilities and thus this...

Quick Updates: