Central Warehousing Corporation v. ACIT (2021) 89 ITR 208 (Delhi)(Trib.)

S. 37(1) : Business expenditure-Interest for delayed payment of service tax-Allowable as deduction-Remanded for verification.

Held, that the expenditure on interest for delayed payment of service tax was eligible for allowance as revenue expenditure. The Assessing Officer was to verify whether the assessee had followed the inclusive or exclusive method of accounting for service tax and then decide in accordance with law. (AY. 2006-07 to 2010-11)