EU Levy's Business Purpose Questioned: Disallowance Applies Only to Indian Law Contraventions, Not Foreign, per Explanation 1, Sec 37(1).

EU Levy's Business Purpose Questioned: Disallowance Applies Only to Indian Law Contraventions, Not Foreign, per Explanation 1, Sec 37(1). https://www.taxtmi.com/highlights?id=50266 Expenditure incurred towards levy by EU Commission - whether incurred for the purpose of carrying on its business - What has to be disallowed under Explanation 1 to Sec.37(1) is a payment made, for contravention of laws in force in India and not of any foreign country. en-us Mon, 18 Nov 2019 10:40:41 +0530 Mon, 18 Nov 2019 10:40:41 +0530 TaxTMI RSS Generator EU Levy's Business Purpose Questioned: Disallowance Applies Only to Indian Law Contraventions, Not Foreign, per Explanation 1, Sec 37(1). https://www.taxtmi.com/highlights?id=50266 Expenditure incurred towards levy by EU Commission - whether incurred for the purpose of carrying on its business - What has to be disallowed under Explanation 1 to Sec.37(1) is a payment made, for contravention of laws in force in India and not of any foreign country. Highlights Income Tax Mon, 18 Nov 2019 10:40:41 +0530 https://www.taxtmi.com/highlights?id=50266