Forgot password
New User/ Regiser
⇒ Register to get Live Demo
1975 (11) TMI 40 - GUJARAT HIGH COURT
Extract:
.......answered on the same lines, that is-- Question No. (1). The payment was not in the nature of penalty and was incidental to the carrying on of the assessee s business. Question No. (2). The payments were business expenditure allowable under section 37 of the Income-tax Act, 1961. The Commissioner will pay the costs of this reference to the assessee.