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Ivtl Infoview Technologies Pvt. ... vs Dcit, Corporate Circle-Ii(2), Chennai on 30 January, 2025 cites

Commissioner Of Income Tax, New Delhi vs Oriental Fire & General Insurance Co. ... on 18 May, 2007

10. Therefore, the Judgment of the Hon'ble Supreme Court in the case of Lachmandas Mathura (supra), Hon'ble Karnataka High Court decision in the case of CIT vs. Oriental Insurance Co. Ltd. [315 ITR 102] and other Tribunal orders explicitly opined that interest incurred on late payment of TDS is allowable business expenditure because it is compensatory in nature. Hence, interest on late payment of TDS is eligible for deduction u/s 37 of the Act.
Supreme Court of India Cites 25 - Cited by 74 - S B Sinha - Full Document

Lachmandas Mathuradas vs Commissioner Of Income-Tax on 16 January, 1997

10. Therefore, the Judgment of the Hon'ble Supreme Court in the case of Lachmandas Mathura (supra), Hon'ble Karnataka High Court decision in the case of CIT vs. Oriental Insurance Co. Ltd. [315 ITR 102] and other Tribunal orders explicitly opined that interest incurred on late payment of TDS is allowable business expenditure because it is compensatory in nature. Hence, interest on late payment of TDS is eligible for deduction u/s 37 of the Act.
Supreme Court of India Cites 3 - Cited by 67 - Full Document

The Triveni Engg. Works Ltd. vs Dy. Commissioner Of Income Tax, Special ... on 5 July, 2003

The learned counsel appearing for the appellant-assessee states that the said judgment of the Full Bench has been reversed by the larger Bench of the High Court in Triveni Engg. Works 6 ITA No.2916/Chny/2024 Ltd. v. CIT [1983] 144 ITR 732 (All.) (FB), wherein it has been held that interest on arrears of tax is compensatory in nature and not penal. This question has also been considered by this Court in Civil Appeal No. 830 of 1979 titled Saraya Sugar Mills (P.)
Income Tax Appellate Tribunal - Delhi Cites 28 - Cited by 115 - Full Document

Elitecore Technologies Private ... vs Dy.Cit, Circle-2(1)(1) , Ahmedabad on 31 March, 2017

BEFORE HON'BLE SHRI MANU KUMAR GIRI, JUDICIAL MEMBER AND HON'BLE SHRI JAGADISH, ACCOUNTANT MEMBER आयकरअपील सं./ ITA No.2916/Chny/2024 (िनधारणवष / Assessment Year: 2015-2016) IVTL Infoview Technologies Vs. The Deputy Commissioner of Private Limited, Income Tax, No.2/319, 3F, Corporate Circle II(2) Vishranthi Melaram Towers, Chennai 600 034.
Income Tax Appellate Tribunal - Ahmedabad Cites 83 - Cited by 8 - Full Document
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