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1984 (8) TMI 71 - HC - Income TaxExtract: .......ty paid under s. 13(2) of the Karnataka Sales Tax Act, 1957, was not a penalty in the real sense of the term and it is only a compensation for delay, in payment of the tax due. Clearly, therefore, it must be allowed as a deduction under s. 37(1) of the I.T. Act, 1961. In the result, we answer the question in the affirmative and against the Revenue.
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