https://www.taxtmi.com/caselaws?id=242484 The Tribunal upheld the disallowance of Rs. 53,86,538 as expenditure incurred for a purpose considered an offence related to a narcotics case involving the company's directors. The disallowance was based on Section 37(1) prohibiting deduction of expenses for an offence. The Tribunal rejected the argument that legal fees for securing bail indicated innocence. Additionally, the Tribunal partly allowed the appeal regarding the disallowance of Rs. 4,23,816 interest income not accounted for in the books, directing a reexamination by the AO based on pending material. en-us Wed, 05 Jun 2013 00:00:00 +0530 Thu, 16 Jan 2014 09:52:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242484 The Tribunal upheld the disallowance of Rs. 53,86,538 as expenditure incurred for a purpose considered an offence related to a narcotics case involving the company's directors. The disallowance was based on Section 37(1) prohibiting deduction of expenses for an offence. The Tribunal rejected the argument that legal fees for securing bail indicated innocence. Additionally, the Tribunal partly allowed the appeal regarding the disallowance of Rs. 4,23,816 interest income not accounted for in the books, directing a reexamination by the AO based on pending material. Case-Laws Income Tax Wed, 05 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242484