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of <h1>Penalties under Sales Tax Act not deductible as business expenditure</h1> <h3>Commissioner Of Income-Tax Versus Jolly Steel Industries Pvt. Ltd.</h3> The Bombay HC held that penalties under section 36(3) of the Sales Tax Act are not deductible as business expenditure, deeming them penal rather than ... Fines And Penalties, Sales Tax, Business Expenditure, Compensatory The Bombay High Court ruled that penalty levied under section 36(3) of the Sales Tax Act is not deductible as business expenditure. The court referenced previous decisions to support its conclusion. The court held that the penalty is penal in nature and not compensatory. The judgment favored the Revenue and concluded the reference with no costs.
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