Deduction for Penal excise was allowed u/s 37 as it was paid to indemnify department for violating terms of affidavit
February 25, 2018
High Courts, Income Tax, Judgments
Deduction for Penal excise was allowed u/s 37 as it was paid in discharging contractual obligation to indemnify department for violating terms of affidavit ABCAUS Case Law Citation: ABCAUS 2222 (2018) (02) HC The respondent assessee was engaged in the business of manufacturing and its sale. An intending …