when penal interest is not allowed as deduction

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PradeepS (Querist)
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05 April 2010 can anyboby help me, when penal interest can be allowed as deduction . and when it cannot be allowed as deduction.

Zeeshan (Expert)
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05 April 2010 Penal Interest on any tax other than income tax is allowed as an expenditure.
only the penalty is an unallowable expenditure.

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