CBDT order rejecting TDS refund on penal interest treating it non-exempt u/s 10(15)(iv)(c) quashed
April 7, 2016
High Courts, Income Tax, Judgments
In a latest judgment, Delhi High Court has quashed CBDT order rejecting refund of TDS deducted on penal interest treating it non-exempt u/s 10(15)(iv)(c) considering it as a result of violation/transgression of the loan agreement. The Court observed that the penal interest was imposed as part of the conditions of the …