https://www.taxtmi.com/highlights?id=37567 Business expenditure - allow-ability u/s 37(1)- The assessee also failed to prove that they had got any benefit for becoming a guarantor of the said company. Therefore, one-time settlement charges paid to banks is not an allowable expenditure under section 37 of the Income Tax Act - Decided against assessee. - AT en-us Tue, 16 Jan 2018 09:25:52 +0530 Tue, 16 Jan 2018 09:25:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=37567 Business expenditure - allow-ability u/s 37(1)- The assessee also failed to prove that they had got any benefit for becoming a guarantor of the said company. Therefore, one-time settlement charges paid to banks is not an allowable expenditure under section 37 of the Income Tax Act - Decided against assessee. - AT Highlights Income Tax Tue, 16 Jan 2018 09:25:52 +0530 https://www.taxtmi.com/highlights?id=37567