Business expenditure u/s 37(1) - when a payment by way of impost ...

Section 37(1) ITA: Deductible Business Expenses Include Compensatory Payments, Not Penalties for Legal Infractions.

May 22, 2020

Case Laws Income Tax AT

Business expenditure u/s 37(1) - when a payment by way of impost or by way of penalty or interest is purely compensatory and not penal in nature, the same should be allowed as expenditure u/s 37(1) - A payment of compensation for breach of contract can by no stretch of imagination be termed as penalty for infraction of law

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Business expenditure u/s 37(1) - when a payment by way of impost ...

Section 37(1) ITA: Deductible Business Expenses Include Compensatory Payments, Not Penalties for Legal Infractions.

May 22, 2020

Case Laws Income Tax AT

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