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Interest paid-failure to submit c-form-allowable expense?

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10 September 2014 Is Interest paid to Sales Tax Department for failure to submit C-Form, an allowable expenditure for the purpose of the Income Tax Act?

Would appreciate if the experts can help with relevant case law in this regard.

10 September 2014 In my opinion interest paid to sales tax department for failure to submit C form is in the nature of penalty and hence not allowable expenditure.



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