TMI BlogCourt Rules Bank Guarantee Encashment for Non-Performance is a Legitimate Business Expense u/s 37(1) of Income Tax Act.Business expenditure u/s 37(1) - Encashment of bank guarantee - compensation for non performance - whether in the nature of penalty - It can be said to be compensatory in nature and not penal in nature - HC ..... X X X X Extracts X X X X X X X X Extracts X X X X
|