law: Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993 
  9. Interest not to be allowed as deduction from income 
  Notwithstanding anything contained in the Income Tax Act, 1961,
  
  the amount of interest payable or paid by any buyer, under or in accordance
  
  with the provisions of this Act, shall not, for the purposes of computation of
  
  income under the Income Tax Act, be allowed as deduction.