Tax Authority Disallows Deduction of Penal Charges; Not Considered Ordinary Business Expenses Under Income Tax Rules.

Tax Authority Disallows Deduction of Penal Charges; Not Considered Ordinary Business Expenses Under Income Tax Rules. https://www.taxtmi.com/highlights?id=3059 Penal Charges paid to Sister Concern towards cost of storage - deduction disallowed - AT en-us Wed, 29 Feb 2012 18:17:21 +0530 Wed, 29 Feb 2012 18:17:21 +0530 TaxTMI RSS Generator Tax Authority Disallows Deduction of Penal Charges; Not Considered Ordinary Business Expenses Under Income Tax Rules. https://www.taxtmi.com/highlights?id=3059 Penal Charges paid to Sister Concern towards cost of storage - deduction disallowed - AT Highlights Income Tax Wed, 29 Feb 2012 18:17:21 +0530 https://www.taxtmi.com/highlights?id=3059