28 June 2009
Interest payable to SME'S are in the nature of penalty attracting voilation of MSME Development Act, 2006 and hence disallowable Under Proviso to Section 37
29 June 2009
Whether the Interest payable to SME'S (which is in the nature of penalty attracting voilation of MSME Development Act, 2006) can be treated as compensatory in nature & hence allowable.