https://www.taxtmi.com/highlights?id=55422 Allowable expenditure u/s 37 - Guarantee money - in the event assessee is not able to make good the full payment towards R&R plan as directed by CEC, the guarantee money paid by assessee would be forfeited to that extent. We therefore, cannot concur with the observations of the authorities below that such payment is hit by Explanation 1 to Section 37 (1). - AT en-us Fri, 06 Nov 2020 09:58:15 +0530 Fri, 06 Nov 2020 09:58:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=55422 Allowable expenditure u/s 37 - Guarantee money - in the event assessee is not able to make good the full payment towards R&R plan as directed by CEC, the guarantee money paid by assessee would be forfeited to that extent. We therefore, cannot concur with the observations of the authorities below that such payment is hit by Explanation 1 to Section 37 (1). - AT Highlights Income Tax Fri, 06 Nov 2020 09:58:15 +0530 https://www.taxtmi.com/highlights?id=55422