Interest paid on delayed payment of TDS not penal in nature: ITAT Allows Deduction u/s 37 [Read Order]

Interest - payment - TDS - nature - ITAT - Deduction - TAXSCAN

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has allowed the deduction under Section 37 of the Income Tax Act 1961 holding that the interest paid on delayed payment of Tax Deducted at Source (TDS) was not penal in nature. An appeal was filed by the assessee, Harcharan Dass Gupta, against the order dated…

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