https://www.taxtmi.com/highlights?id=44596 Nature of expenditure - forfeiture of advance of ₹ 7 crores - against purchase of property - once the parties to the transaction have accepted the forfeiture and the assessee has not made any claim or the amount was otherwise not paid to the assessee then there is no reason to treat the forfeiture as non-genuine - Allowed as business expenditure u/s 37(1) en-us Tue, 19 Feb 2019 16:19:53 +0530 Tue, 19 Feb 2019 16:19:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=44596 Nature of expenditure - forfeiture of advance of ₹ 7 crores - against purchase of property - once the parties to the transaction have accepted the forfeiture and the assessee has not made any claim or the amount was otherwise not paid to the assessee then there is no reason to treat the forfeiture as non-genuine - Allowed as business expenditure u/s 37(1) Highlights Income Tax Tue, 19 Feb 2019 16:19:53 +0530 https://www.taxtmi.com/highlights?id=44596