https://www.taxtmi.com/highlights?id=63855 Allowability of fine and penalty as per section 37 - the ‘FINE’ paid by the Assessee is allowed as expenditure u/s 37(1) the amount paid as ‘penalty’is an inadmissible expenditure and not allowable under the provisions of section 37(1) of the Act. Consequently the addition made and affirmed on account of ‘Penalty’is sustained - AT en-us Fri, 03 Jun 2022 15:27:39 +0530 Fri, 03 Jun 2022 15:28:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=63855 Allowability of fine and penalty as per section 37 - the ‘FINE’ paid by the Assessee is allowed as expenditure u/s 37(1) the amount paid as ‘penalty’is an inadmissible expenditure and not allowable under the provisions of section 37(1) of the Act. Consequently the addition made and affirmed on account of ‘Penalty’is sustained - AT Highlights Income Tax Fri, 03 Jun 2022 15:27:39 +0530 https://www.taxtmi.com/highlights?id=63855