https://www.taxtmi.com/caselaws?id=21553 The court held that the penalty under section 10A of the Central Sales Tax Act is penal in nature and not compensatory. Consequently, it cannot be deducted under section 37 of the Income-tax Act. The court emphasized that penalties for statutory violations are not deductible as business expenses. The decision favored the Revenue, ruling against allowing the penalty as a deduction in computing total income. en-us Fri, 06 Sep 1991 00:00:00 +0530 Wed, 25 Nov 2009 12:48:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21553 The court held that the penalty under section 10A of the Central Sales Tax Act is penal in nature and not compensatory. Consequently, it cannot be deducted under section 37 of the Income-tax Act. The court emphasized that penalties for statutory violations are not deductible as business expenses. The decision favored the Revenue, ruling against allowing the penalty as a deduction in computing total income. Case-Laws Income Tax Fri, 06 Sep 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21553