Gem Electro Mechanicals (P.) Ltd. v. ACIT (2021) 187 ITD 361 (Jaipur)(Trib.)

S. 37(1) : Business expenditure-Delayed payment of sales tax-non collection of Form No C from buyers-Not in nature of penalty, allowable as deduction.

Allowing the appeal the Tribunal held that differential amount of tax and interest on delayed payment of such tax deposited by assessee due to non-collection of Form No C is held to be allowable as deduction. (AY. 2016-17)