https://www.taxtmi.com/caselaws?id=234449 The High Court ruled in favor of the revenue, disallowing the claimed deduction by the assessee under Section 37(1) of the Income Tax Act. The Court emphasized that expenditure incurred for evading statutory provisions or penalties cannot be considered wholly and exclusively for the purpose of business. The judgment reaffirmed that expenses incurred in violation of statutory provisions are not admissible for deduction, in line with the Explanation to Section 37(1) of the Act. en-us Mon, 14 May 2012 00:00:00 +0530 Wed, 12 Jun 2013 10:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234449 The High Court ruled in favor of the revenue, disallowing the claimed deduction by the assessee under Section 37(1) of the Income Tax Act. The Court emphasized that expenditure incurred for evading statutory provisions or penalties cannot be considered wholly and exclusively for the purpose of business. The judgment reaffirmed that expenses incurred in violation of statutory provisions are not admissible for deduction, in line with the Explanation to Section 37(1) of the Act. Case-Laws Income Tax Mon, 14 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234449