TMI BlogInterest on Delayed Payments Not Penal, Deductible Under Income Tax Act Section 37(1), High Court Rules.Deduction u/s 37(1) - Whether, payment of interest on delayed payment of instalments is penal in nature - Held No - It was simplicitor liability of interest on delayed payment of installments - HC ..... X X X X Extracts X X X X X X X X Extracts X X X X
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