HPCL penalty for unmet dealership condition recognized as business expenditure, allowable u/s 37 of Income-tax Act.

HPCL penalty for unmet dealership condition recognized as business expenditure, allowable u/s 37 of Income-tax Act. https://www.taxtmi.com/highlights?id=31283 Since the penalty is levied by HPCL for non-fulfillment of some dealership condition falls within the purview of business expenditure, hence the same is allowable expenditure u/s 37 of the Income-tax Act, 1961 - AT en-us Mon, 19 Sep 2016 11:16:35 +0530 Mon, 19 Sep 2016 11:16:35 +0530 TaxTMI RSS Generator HPCL penalty for unmet dealership condition recognized as business expenditure, allowable u/s 37 of Income-tax Act. https://www.taxtmi.com/highlights?id=31283 Since the penalty is levied by HPCL for non-fulfillment of some dealership condition falls within the purview of business expenditure, hence the same is allowable expenditure u/s 37 of the Income-tax Act, 1961 - AT Highlights Income Tax Mon, 19 Sep 2016 11:16:35 +0530 https://www.taxtmi.com/highlights?id=31283