Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 1991 (9) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1991 (9) TMI 36 - KARNATAKA HIGH COURTExtract: .......e, the penalty levied under the provisions of the Bombay Sales Tax Act was claimed by the assessee as in the nature of interest and, therefore, a trading expenditure. This contention was not accepted. In view of the above, the question referred to us has to be answered in the negative and in favour of the Revenue. Reference is answered accordingly.
|