Interest paid on Delayed TDS Payment is Compensatory in Nature: ITAT allows deduction u/s 37(1) [Read Order]

Interest - paid - TDS - Payment - ITAT - TAXSCAN

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has allowed deduction under Section 37(1) of the Income Tax Act 1961 holding that the interest paid on delayed Tax Deducted at Source (TDS) payment was compensatory in nature, The assessee,Delhi Cargo Service Centrewas a company engaged in cargo handling services at Cargo Terminal – 2…

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