Interest paid on belated payments of service tax is allowable for deduction u/s 37(1) IT Act
The Income Tax Appellate Tribunal, Chennai (“the ITAT”) in Prince Holdings Madras (P) Ltd v. Deputy Commissioner of Income Tax [ITA No.: 524/Chny/2021 dated November 2, 2022] held that the interest paid on belated payments of service tax is allowable…
