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Income Tax - Highlights / Catch Notes

Home Highlights December 2019 Year 2019 This

Deduction of expenditure u/s 37(1) - It is settled position of ...

Case Laws     Income Tax

December 9, 2019

Deduction of expenditure u/s 37(1) - It is settled position of law that interest on delay in payment of tax is also part and parcel of tax and it is equally settled position of law that Service Tax paid is also a permissible deduction. - interest is only of compensatory nature and does not take a colour of penalty.

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