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Income Tax - Highlights / Catch Notes

Home Highlights April 2016 Year 2016 This

Bombay Stock Exchange is not a statutory body and any penalties ...


Bombay Stock Exchange fines deductible u/s 37(1) of Income Tax Act, not a statutory body.

April 20, 2016

Case Laws     Income Tax     AT

Bombay Stock Exchange is not a statutory body and any penalties or fines paid as the case may be under regulations and bye-laws can be considered as regulations for controlling the internal obligations - penalties paid allowed as expense u/s 37(1) - AT

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