The punitive charges paid are only compensatory in nature ...

Case Laws Income Tax

April 4, 2017

The punitive charges paid are only compensatory in nature pursuant to the contractual obligation which is directly connected or intrinsically related with the carrying on of its business which unequivocally qualifies as an allowable deduction under section 37(1) - AT

View Source

← Previous Next →

The punitive charges paid are only compensatory in nature ...

Case Laws Income Tax

April 4, 2017

You may also like:

Punitive charges paid to Railways for overloading of the wagons is compensatory in nature, therefore, the same cannot be disallowed by invoking the provisions of...

Allowable business expenditure - Payment for breach of contractual obligation - by no stretch of imagination could it be said that the payment for breach of contractual...

The applicant is required to pay GST on the charges paid to Indian Railways for various services received, as the applicant is the recipient of these services from...

Disallowance as the overloading charges - Railway Punitive Charges - payments made to the railways for overloading of the wagons is compensatory in nature and cannot be...

Punitive charges paid to the Railways - Allowable Revenue expenditure u/s 37 - whether the punitive charges paid to the Railways for alleged violation of the provision...

TDS u/s 194C or 194I - default u/s. 201(1) - short deduction of TDS - Payment of common area maintenance charges (CAM charges) - the payments made towards CAM charges...

Business expenditure - Interest on late payment of TDS - The issue involved is whether the interest paid by the assessee to the government can be termed as compensatory...

Charges paid to Stock Exchange viz. VSAT charges, lease line charges, Transaction charges are in the nature of reimbursement of charges paid by the Members of Stock...

Amount paid towards penalty for breach of commercial contract by the assessee is not penal in nature, but compensatory in nature - deduction u/s 37(1) allowed - HC

Dishonor of Cheque - payment of compensation or fine - proceedings contained in chapter XVII of the Negotiable Instruments Act - Quasi criminal proceedings or not - The...

Disallowances as the overloading charges u/s 37 -whether this is nothing but a penalty as per provision of section 73 of the Indian Railway Act, 1989 - these payments...

Levy of Service Tax - Manpower Services - The total outflow of labour charges has been divided into two parts. One part pertains to the labour charges paid to...

TDS u/s 194C or 194I - short deduction of TDS - CAM charges Maintenance Charges along with Rent - the CAM charges paid by the assessee did not form part of the actual...

Levy of GST - whether the stand to charge the GST@18% only on establishment charges (i.e. after abatement of wages etc. paid to guards) and not on whole amount - the...

TDS u/s 194I - TDS liability on payment development charges, lease charges and other charges paid to RIICO - the development charges can not be considered as rent - AT

Quick Updates: