{"id":43202,"date":"2024-06-07T19:20:37","date_gmt":"2024-06-07T13:50:37","guid":{"rendered":"https:\/\/itatonline.org\/digest\/premier-irrigation-adritec-p-ltd-v-acit-2023-199-itd-342-222-ttj-732-kol-trib\/"},"modified":"2024-06-07T19:20:37","modified_gmt":"2024-06-07T13:50:37","slug":"premier-irrigation-adritec-p-ltd-v-acit-2023-199-itd-342-222-ttj-732-kol-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/premier-irrigation-adritec-p-ltd-v-acit-2023-199-itd-342-222-ttj-732-kol-trib\/","title":{"rendered":"Premier Irrigation Adritec (P.) Ltd. v. ACIT (2023) 199 ITD 342 \/222 TTJ 732 (Kol) (Trib.)"},"content":{"rendered":"<p>The\u00a0 Assessing Officer held that\u00a0 payment of interest on delayed deposit of TDS was not an allowable deduction and accordingly disallowed\u00a0 expenditure. Tribunal held\u00a0 once, deductee pays due taxes, deductor is absolved from said tax liability but not of interest liability on delayed payment. Allowing of such interest payment on delayed deposit of TDS as deduction would defeat very purpose of TDS provisions ensuring deduction of taxes from income of recipient and payment\/deposit thereof with Central Government within due time. Therefore, interest payment on delayed deposit of Income-tax, whether TDS or otherwise, was not an allowable expenditure. (AY. 2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 37(1) : Business expenditure-Interest payment on delayed deposit of Income-tax-Not an allowable expenditure.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-43202","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-beO","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/43202","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=43202"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/43202\/revisions"}],"predecessor-version":[{"id":43203,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/43202\/revisions\/43203"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=43202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=43202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=43202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}