https://www.taxtmi.com/caselaws?id=303521 The Tribunal held that the payment of compounding fine for regularizing permissible deviations is allowable under Section 37(1) of the Income Tax Act. The Tribunal quashed the proceedings initiated under Section 263, partly allowing the assessee's appeal. The Tribunal dismissed the CIT's proposed adjustment concerning tax credit under Minimum Alternate Tax provisions. en-us Wed, 09 Aug 2017 00:00:00 +0530 Wed, 27 Jul 2022 21:28:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303521 The Tribunal held that the payment of compounding fine for regularizing permissible deviations is allowable under Section 37(1) of the Income Tax Act. The Tribunal quashed the proceedings initiated under Section 263, partly allowing the assessee's appeal. The Tribunal dismissed the CIT's proposed adjustment concerning tax credit under Minimum Alternate Tax provisions. Case-Laws Income Tax Wed, 09 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303521