Expenditure on illegal or prohibited purposes clarified: disallowance covers offences abroad, prohibited benefits to regulated persons and compounding. Amendment clarifies that the expression "expenditure incurred by an assessee for any purpose which is an offence or which is prohibited by law" includes ... Summary
Expenditure on illegal or prohibited purposes clarified: disallowance covers offences abroad, prohibited benefits to regulated persons and compounding.
Amendment clarifies that the expression "expenditure incurred by an assessee for any purpose which is an offence or which is prohibited by law" includes expenditure for offences or prohibited acts in India or abroad, expenditure to provide benefits or perquisites whose acceptance violates applicable laws, rules, regulations or guidelines governing the recipient, and expenditure to compound an offence under any law in India or outside India.
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