Santhosh Poojary (SIEMPRE AHÍ PARA TI) (15607 Points)
15 September 2010
Aditya Maheshwari
(CA in Practice)
(35867 Points)
Replied 15 September 2010
Interest paid on sales tax arrears is deductible - Interest paid by the assessee to the Sales-tax Department on arrears of sales tax is an admissible deduction under section 37(1) - Lachmandas Mathuradas v. CIT [2002] 254 ITR 799/122 Taxman 828(SC)/CIT v. Western India State Motors [1987] 167 ITR 395 (Raj.)/CIT v. Western Indian State Motors [1988] 174 ITR 116 (Raj.).
Santhosh Poojary
(SIEMPRE AHÍ PARA TI)
(15607 Points)
Replied 15 September 2010
| Originally posted by : Aditya Maheshwari | ||
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Interest paid on sales tax arrears is deductible - Interest paid by the assessee to the Sales-tax Department on arrears of sales tax is an admissible deduction under section 37(1) - Lachmandas Mathuradas v. CIT [2002] 254 ITR 799/122 Taxman 828(SC)/CIT v. Western India State Motors [1987] 167 ITR 395 (Raj.)/CIT v. Western Indian State Motors [1988] 174 ITR 116 (Raj.). |
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