https://www.taxtmi.com/caselaws?id=789844 Occupation charges and related interest, settled in the relevant assessment year, were treated as business expenditure allowable under section 37(1) of the Income-tax Act, 1961. The record showed that the demand was finally resolved in that year and the interest component was not ultimately pressed by the creditor, so the claim was regarded as incurred for business purposes. The objection based on section 43B did not dislodge the finding that the deduction was otherwise allowable. The disallowance was therefore deleted and the assessee's claim sustained. en-us Mon, 06 Apr 2026 00:00:00 +0530 Wed, 15 Apr 2026 09:05:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789844 Occupation charges and related interest, settled in the relevant assessment year, were treated as business expenditure allowable under section 37(1) of the Income-tax Act, 1961. The record showed that the demand was finally resolved in that year and the interest component was not ultimately pressed by the creditor, so the claim was regarded as incurred for business purposes. The objection based on section 43B did not dislodge the finding that the deduction was otherwise allowable. The disallowance was therefore deleted and the assessee's claim sustained. Case-Laws Income Tax Mon, 06 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789844