https://www.taxtmi.com/caselaws?id=67137 Redemption fine paid to secure release of confiscated imported goods was treated as an additional business cost where the assessee acted bona fide, relied on the import policy and legal advice, and did not deliberately contravene the law; the deduction was therefore allowed. Transit shortage in industrial acid oil was accepted only to the extent supported by the Department's acceptance and independent evidence of loss in transit, while the balance was disallowed for insufficient proof. The result was partial relief on the shortage claim and full relief on the redemption-fine issue. en-us Fri, 17 Sep 1993 00:00:00 +0530 Wed, 09 Mar 2011 12:23:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67137 Redemption fine paid to secure release of confiscated imported goods was treated as an additional business cost where the assessee acted bona fide, relied on the import policy and legal advice, and did not deliberately contravene the law; the deduction was therefore allowed. Transit shortage in industrial acid oil was accepted only to the extent supported by the Department's acceptance and independent evidence of loss in transit, while the balance was disallowed for insufficient proof. The result was partial relief on the shortage claim and full relief on the redemption-fine issue. Case-Laws Income Tax Fri, 17 Sep 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67137