https://www.taxtmi.com/caselaws?id=61566 Redemption fine and customs penalty paid on undeclared and oversized imported scrap were held not deductible under section 37(1) because they arose from infraction of law, not from an ordinary business expense. The Tribunal distinguished cases where redemption payments were made under a statutory option to reclaim confiscated goods, noting that those authorities did not apply where the assessee had failed to disclose the goods correctly and attempted to evade proper customs duty. The disallowance was therefore upheld. en-us Fri, 13 Aug 2004 00:00:00 +0530 Thu, 13 Jan 2011 13:01:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61566 Redemption fine and customs penalty paid on undeclared and oversized imported scrap were held not deductible under section 37(1) because they arose from infraction of law, not from an ordinary business expense. The Tribunal distinguished cases where redemption payments were made under a statutory option to reclaim confiscated goods, noting that those authorities did not apply where the assessee had failed to disclose the goods correctly and attempted to evade proper customs duty. The disallowance was therefore upheld. Case-Laws Income Tax Fri, 13 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61566