The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that interest payment on late payment of TDS is not an eligible business expenditure for deduction and it is not compensatory in nature.The two-member bench of A. D. Jain (Vice President) and Dr. B. R. R. Kumar (Accountant Member) has observed that the payment of interest on late deposit of TDS levied u/s 201(1A) is...
