Court 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

→ Full Text of the Document

X X   X X   Extracts   X X   X X