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1972 (1) TMI 11 - HC - Income TaxImposition of penalty for delayed payment of cess and purchase tax levied under the U.P. Sugarcane Cess Act, 1956 – held that imposition of penalty was on account of failure on the part of the assessee to comply with a statutory obligation and as such any payment made by the assessee was not incidental to its business nor was there any commercial expediency for its payment – therefore amount was not an allowable expenditure under section 10(2)(xv)
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