Illegal-purpose expenditure non-deductible: amendment disallows tax deductions for expenses incurred for offences or prohibited acts. Any expenditure incurred by an assessee for any purpose which is an offence or which is prohibited by law shall not be deemed to have been incurred for ... Summary
Illegal-purpose expenditure non-deductible: amendment disallows tax deductions for expenses incurred for offences or prohibited acts.
Any expenditure incurred by an assessee for any purpose which is an offence or which is prohibited by law shall not be deemed to have been incurred for the purpose of business or profession and no deduction or allowance shall be made in respect of such expenditure; the Explanation is deemed effective from 1 April 1962.
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