Expenditure to Regularize Excess Area at MODI MALL is a Penalty, Not Deductible u/s 37(1) IT Act.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Expenditure paid to Pune Municipal Corporation(PMC) for regularizing the excess area constructed for a building called "MODI MALL" - Is in the nature of penalty - not allowable u/s 37(1) - AT....