disallowable exps.
This query is : Resolved
23 December 2009
can anyone tell me the section under
which penaly on service tax is disallowed?
which penaly on service tax is disallowed?
23 December 2009
I think it is under Section 37 of the IT Act
23 December 2009
Section 37(1) says about allowability of the business expenditure only when these are incurred wholly and exclusively for the purpose of business.
To pay penalty on Service Tax; it cannot be said that it is a business purpose to pay such penalty.
To pay penalty on Service Tax; it cannot be said that it is a business purpose to pay such penalty.
23 December 2009
U/S 37(1)
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