Interest Paid on Delayed Payment of TDS u/s 201(1A) of Income Tax Act is not Eligible for Allowance as Business Expenditure: ITAT [Read Order]

By Sunayana Dhal - On September 1, 2023 3:00 pm - 2 mins read
Interest Paid on Delayed Payment of TDS - Interest - Payment of TDS - TDS - Income Tax Act - Income Tax - ITAT - Taxscan

The Pune bench of the Income Tax Appellate Tribunal (ITAT) held that the interest paid on delayed payments of Tax Deducted at Source (TDS) under Section 201(1A) of the Income Tax Act, 1961 is not eligible for allowances as business expenditure. The assessee challenging the action of the Commissioner of Income Tax (Appeal) [CIT(A)] in…

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