Payment of liquidated damages - Capital or Revenue in nature - ...

Liquidated damages under contract conditions are deductible under Income Tax Act Section 37(1); considered revenue expense.

February 1, 2013

Case Laws Income Tax AT

Payment of liquidated damages - Capital or Revenue in nature - the claim of assessee on liquidated damages deducted under the agreed condition of the contract is allowable u/s 37(1) - AT

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Payment of liquidated damages - Capital or Revenue in nature - ...

Liquidated damages under contract conditions are deductible under Income Tax Act Section 37(1); considered revenue expense.

February 1, 2013

Case Laws Income Tax AT

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