https://www.taxtmi.com/caselaws?id=192188 The Appellate Tribunal ITAT Mumbai allowed the appeal against the disallowance of demurrage charges under section 37(1) of the IT Act, 1961 for the assessment year 2003-04. The Tribunal held that the demurrage charges were compensatory in nature for delays in loading, not a penalty for any legal offense, following a decision of the Allahabad High Court. The Tribunal ruled in favor of the assessee, allowing the deduction for the demurrage charges and set aside the orders of the lower authorities, ultimately allowing the appeal. en-us Tue, 31 Aug 2010 00:00:00 +0530 Thu, 18 May 2017 18:04:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192188 The Appellate Tribunal ITAT Mumbai allowed the appeal against the disallowance of demurrage charges under section 37(1) of the IT Act, 1961 for the assessment year 2003-04. The Tribunal held that the demurrage charges were compensatory in nature for delays in loading, not a penalty for any legal offense, following a decision of the Allahabad High Court. The Tribunal ruled in favor of the assessee, allowing the deduction for the demurrage charges and set aside the orders of the lower authorities, ultimately allowing the appeal. Case-Laws Income Tax Tue, 31 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192188