TMI BlogDisallowance of illegal expenses - A little bit of interplay between Section 115BBE and Section 37(1) of...Disallowance of illegal expenses - A little bit of interplay between Section 115BBE and Section 37(1) of the Act might throw more light on both the provisions. If a loss in pursuance to an offence or prohibited business cannot be brought under Section 115BBE of the Act for income assessed under 68, 69 and 69A to 69D of the Act, which deals with unexplained income, expenditure etc., it can never be said that the same would be brought under Section 37(1) of the Act, despite the fact that the objec..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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