In the result, appeal of the revenue is partly allowed
Bench: Shri Vijay Pal Rao & Shri B.M. Biyanidcit, Circle 5(1) M/S. L.N. Malviya Infra Projects Bhopal Pvt. Ltd. Plot No.29, F/F Sector, Dwarka Vs. New Delhi
6 of 17 ITANo.189/Ind/2023 L.N. Malviya Infra Projects P. Ltd. Court in Bharat Commerce Industries Ltd. Vs. CIT (1998) 230 ITR 733 wherein the deduction of interest on late payment of income-tax was disallowed. The Hon’ble ITAT observed that the principle laid down in Lachmandas Mathura Vs. CIT reported in 254 ITR 799 can be applied