https://www.taxtmi.com/caselaws?id=261159 The Tribunal upheld the disallowance of the expenditure paid to Pune Municipal Corporation as a penalty, restored the issues of interest disallowance under Section 40(a)(ia) to the AO for fresh adjudication based on the first proviso to Section 201(1), and allowed the interest deduction under Section 36(1)(iii) for business purposes. The Revenue's appeal was dismissed, and the assessee's appeal was partly allowed. en-us Fri, 26 Jun 2015 00:00:00 +0530 Fri, 03 Jul 2015 13:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261159 The Tribunal upheld the disallowance of the expenditure paid to Pune Municipal Corporation as a penalty, restored the issues of interest disallowance under Section 40(a)(ia) to the AO for fresh adjudication based on the first proviso to Section 201(1), and allowed the interest deduction under Section 36(1)(iii) for business purposes. The Revenue's appeal was dismissed, and the assessee's appeal was partly allowed. Case-Laws Income Tax Fri, 26 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261159