Section 9 in The Interest On Delayed Payments To Small Scale And Ancillary Industrial Undertakings Act, 1993
9. Interest not to be allowed as deduction from income
.-Notwithstanding anything contained in the Income-tax Act, 1961 (43 of 1961), the amount of interest payable or paid by any buyer, under or in accordance with the provisions of this Act, shall not, for the purposes of computation of income under the Income-tax Act, 1961 (43 of 1961), be allowed as deduction.
