Role of Compensatory Penalties in Business Regulation and the Pitfalls of Punitive Measures

Vivek Jalan , Last updated: 12 December 2023  
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The question asked many times is whether all penalties are disallowed under the Income tax Law as being expenses made for violations of a law. Prior to Explanation 1 of Sec 37 of The Income Tax Act, there were a catena of decisions dealing with the allowability of expenditure u/s 37, whether illegal

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Vivek Jalan
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Category Income Tax   Report

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