https://www.taxtmi.com/caselaws?id=361642 The Tribunal upheld the CIT(A)'s decision, ruling that the settlement charges paid to SEBI were not penalties for legal infractions but were incurred to settle disputes and maintain business operations. The charges were deemed allowable business expenses under Section 37(1) of the Income Tax Act, 1961. The appeal by the Revenue was dismissed, affirming the deductibility of the settlement charges. en-us Fri, 23 Mar 2018 00:00:00 +0530 Fri, 21 Sep 2018 12:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361642 The Tribunal upheld the CIT(A)'s decision, ruling that the settlement charges paid to SEBI were not penalties for legal infractions but were incurred to settle disputes and maintain business operations. The charges were deemed allowable business expenses under Section 37(1) of the Income Tax Act, 1961. The appeal by the Revenue was dismissed, affirming the deductibility of the settlement charges. Case-Laws Income Tax Fri, 23 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361642