TMI BlogLoss of confiscation of silver bars by DRI officials - Whether allowable business expenditure u/s 37(1)...Loss of confiscation of silver bars by DRI officials - Whether allowable business expenditure u/s 37(1) - A penalty or a confiscation is a proceeding in rem, and therefore, a loss in pursuance to the same is not available for deduction regardless of the nature of business, as a penalty or confiscation cannot be said to be incidental to any business - SC ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
