TMI BlogDisallowance being interest paid on delayed deposit of TDS - Allowable business expenditure or not?...Disallowance being interest paid on delayed deposit of TDS - Allowable business expenditure or not? -Held No - an assessee could not possibly claim that it was borrowing from the State, the amounts payable to it as Income Tax, and utilizing the same as capital in its business, to contend that the interest paid for the period of delay in payment of tax amounted to a business expenditure. - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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