1986 (2) TMI 110 - AT - Income Tax

Summary

The appeal was filed by the assessee, a registered firm engaged in manufacturing rolling shutters, rolling grills, and collapsible gates, regarding a claim of Rs. 54,920 for damages paid to DDA for use of business premises. The ITAT Delhi-B allowed the appeal, stating that the damages were compensation for wrongful use and occupation of the property, not a penalty or fine, and were allowable as a business expense.