PGBP

Well @ sanjeev Section 37 is a residuary section and if u want to take deduction in this Section then the following condition need to be satisfied:

- deduction should not be of the nature defined  U/S 30-36

- its shouldnt be of Capital Nature

- nor personal exp

- should be of previous year

and if any penalty is paid for infraction of law then only the amount of compensatory nature is allowed and  the rest amount of penal nature is not allowed   (Maw Aziz and Abdul Shakur Bros)

- Demurrage charges are allowed.