https://www.taxtmi.com/caselaws?id=198962 Statutory vend fee, special privilege fee and annual licence fee paid under the Tamil Nadu Prohibition Act and the Tamil Nadu IMFS wholesale rules were treated as allowable business deductions because they were compulsory payments attached to the privilege of carrying on the liquor business, not voluntary outgoings or a colourable diversion of profits. The later insertion of section 40(a)(iib) could not be applied retrospectively to deny deduction for earlier assessment years. On that basis, the disallowance was not sustained and the additions relating to the impugned fees were deleted. en-us Mon, 21 Aug 2017 00:00:00 +0530 Thu, 15 Feb 2018 12:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198962 Statutory vend fee, special privilege fee and annual licence fee paid under the Tamil Nadu Prohibition Act and the Tamil Nadu IMFS wholesale rules were treated as allowable business deductions because they were compulsory payments attached to the privilege of carrying on the liquor business, not voluntary outgoings or a colourable diversion of profits. The later insertion of section 40(a)(iib) could not be applied retrospectively to deny deduction for earlier assessment years. On that basis, the disallowance was not sustained and the additions relating to the impugned fees were deleted. Case-Laws Income Tax Mon, 21 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198962