Held that interest charged on failure to remit same within due date to the government would be compensatory in nature and interest paid on delayed payment of TDS under section 201(1A) is allowable as deduction (AY. 2015-16)
Resolve Salvage & Fire India (P.) Ltd. v. DCIT (2022) 195 ITD 266 (Mum.)(Trib.)
S. 37(1) : Business expenditure-Interest paid on delayed payment of TDS-Compensatory in nature-Allowable as deduction. [S. 201(IA)]