https://www.taxtmi.com/caselaws?id=121817 The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s decisions on both issues. The write-off of Rs. 47,73,220 was permitted as a business loss, as it was integral to the appellant's business operations and not illegal despite SEBI guideline violations. The Rs. 60,000 paid to the Stock Exchange was allowed as it was not for legal infringement but for "excess utilization limits," thus not falling under section 37(1). en-us Mon, 03 Nov 2008 00:00:00 +0530 Tue, 14 Nov 2023 16:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121817 The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s decisions on both issues. The write-off of Rs. 47,73,220 was permitted as a business loss, as it was integral to the appellant's business operations and not illegal despite SEBI guideline violations. The Rs. 60,000 paid to the Stock Exchange was allowed as it was not for legal infringement but for "excess utilization limits," thus not falling under section 37(1). Case-Laws Income Tax Mon, 03 Nov 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121817