Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2007 (5) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2007 (5) TMI 182 - HIGH COURT PUNJAB AND HARYANACompensation paid by the assessee on account of breach of contract does not fall in the category of payment of penalty for breach of any law but would be a compensation for breach of contractual obligations, accordingly, will fall in the category of allowable deduction - For the reasons recorded above, the question referred is answered against the revenue and in favour of the assessee
|