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<h1>Deductibility of Penalty under Sales Tax Act as Business Expenditure: Key Considerations and Ruling</h1> The High Court of Madhya Pradesh determined that the deductibility of a penalty imposed under the M.P. General Sales Tax Act as a business expenditure ... Business Expenditure The High Court of Madhya Pradesh was asked to decide if a penalty imposed under the M.P. General Sales Tax Act could be deducted as a business expenditure under the Income-tax Act. The court held that the deduction depends on whether the penalty is merely a difference in tax rates or an amount in excess of that difference. The court directed the Tribunal to provide a supplementary statement of case with the necessary facts for a decision.
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