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Compensation paid under consumer act

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(Querist)
18 March 2014 Whether compensation paid under consumer act awarded by consumer court is allowable expenditure under section 37 of ITA ?

Whether penalty paid under consumer act awarded by consumer court is allowable expenditure under section 37 of ITA ?

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Rupesh Jain

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Rupesh Jain (Expert)
18 March 2014 compensation isallowed expenditure,

but penalty paid any act not allowed under income tax acr.

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