Payment of interest on late deposit of TDS not allowable as deduction u/s 37(1): ITAT [Read Order]

Payment - interest - late deposit - TDS - deduction - ITAT - taxscan

Payment of interest on late deposit of TDS not allowable as deduction u/s 37(1), so was held by Income Tax Appellate Tribunal (ITAT), New Delhi. The assessee, Universal Energies Ltd vide its letter dated 12.03.2015 submitted copy of ledger account of interest on TDS. The assessee itself agreed that interest on TDS amounting to Rs….

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