https://www.taxtmi.com/caselaws?id=9878 Redemption fine paid to secure release of confiscated goods for breach of excise law was treated as a consequence of unlawful conduct, not as an expense incurred wholly and exclusively for business. The governing principle is that a payment arising from infraction of law, including a penalty-linked redemption amount, is not deductible merely because it was incurred during business operations. The amount was therefore held not allowable as business expenditure, with the issue answered in favour of the Revenue. en-us Fri, 07 Jul 2006 00:00:00 +0530 Fri, 18 Sep 2015 17:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9878 Redemption fine paid to secure release of confiscated goods for breach of excise law was treated as a consequence of unlawful conduct, not as an expense incurred wholly and exclusively for business. The governing principle is that a payment arising from infraction of law, including a penalty-linked redemption amount, is not deductible merely because it was incurred during business operations. The amount was therefore held not allowable as business expenditure, with the issue answered in favour of the Revenue. Case-Laws Income Tax Fri, 07 Jul 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9878