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2019 (9) TMI 315 - HC - Income TaxPayment of interest on delayed payment of Custom Duty and Penalty - whether such interest was penal in nature and hence not allowable u/s. 37 - Tribunal allowed claim of assessee - HELD THAT:- no substantial question of law. Message for the tribunal - Tribunal after recording that the issue stands covered by various decisions of the Supreme Court and the various High Courts cases observes “admittedly, there are contrary decisions where it is held that interest paid on delayed payments cannot be allowed as deduction in the assessment proceedings.” The above statement in the impugned order led us to direct the counsel appearing for the parties to examine the law on this issue and to bring to our attention any decision contrary to the view taken by the Supreme Court in Mahalaxmi Sugar Mills [1980 (4) TMI 1 - SUPREME COURT] and other High Courts decisions. We are now informed by Counsel for both sides that there are no decisions contrary to the view taken by the Hon’ble Supreme Court in Mahalaxmi Sugar Mills (supra) and the various High Court decisions referred to in the impugned order of the Tribunal. All this effort and time would have been saved if the Tribunal had made specific reference to contrary decisions or not stated so in the absence of referring to the citations. Therefore, we would request the Tribunal to be specific about the decisions and make a mention of the citation in the order and not make general observations as in this case.
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