Sec. 32 & 37 of Income Tax Act, 1961 – Business Expenditure – Revenue filed Appeal before ITAT against the order of CIT(A) in concluding that interest amount for the delayed payment of the pole rent payable by the assessee since 2002-03 is an allowable expense. ITAT dismissed the appeal of the revenue holding that:– That interest on delayed payment of VAT and TDS is only compensatory and is not penal in nature. Therefore, the CIT(A) has correctly deleted the disallowance made for the interest expenditure claimed on delay payment of VAT and TDS – ASIANET SATELLITE COMMUNICATIONS LTD. [2020] 79 ITR (TRIB) 695 (ITAT-COCHIN)