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

Punitive charges considered compensatory and deductible under Income Tax Act Section 37(1) for business operations.

April 4, 2017

Case Laws Income Tax AT

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

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

Punitive charges considered compensatory and deductible under Income Tax Act Section 37(1) for business operations.

April 4, 2017

Case Laws Income Tax AT

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