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Income Tax - Highlights / Catch Notes

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Disallowance of interest on delayed payment on excise duty or ...

Income Tax

January 22, 2016

Disallowance of interest on delayed payment on excise duty or delayed payment of sales-tax - These are more or less compensatory in nature and cannot be held as any infraction or violation of any law - AT

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  9. Interest on the delayed payment of cess under Oil Industry (development) Act, 1974 cannot be demanded under the provisions of Central Excise Act and Rules made there under - AT

  10. Payment of Interest for Sales Tax Default - interest paid by the assessee to the sales tax department on arrears of sales tax/purchase tax was an admissible deduction - AT

 

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