https://www.taxtmi.com/acts?id=49373 Any expenditure incurred by an assessee for any purpose which is an offence or which is prohibited by law shall not be deemed to have been incurred for the purpose of business or profession and no deduction or allowance shall be made in respect of such expenditure; the Explanation is deemed effective from 1 April 1962. en-us Thu, 20 Feb 2025 16:41:13 +0530 Thu, 20 Feb 2025 16:41:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49373 Any expenditure incurred by an assessee for any purpose which is an offence or which is prohibited by law shall not be deemed to have been incurred for the purpose of business or profession and no deduction or allowance shall be made in respect of such expenditure; the Explanation is deemed effective from 1 April 1962. Act-Rules F. Acts / Amendment Acts Thu, 20 Feb 2025 16:41:13 +0530 https://www.taxtmi.com/acts?id=49373