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2006 (7) TMI 135 - HC - Income TaxBusiness Expenditure - "(1) Whether the redemption fine paid by the assessee to the excise authorities for the infraction of law to release the seized goods, can be treated as business expenditure? (2) Whether the Tribunal even before deciding the issue is correct in holding that in respect of penalty paid for the infraction of law two views are possible and therefore the one favourable to the assessee should be taken? (3) Whether the Tribunal was correct in affirming the deletion made by the Appellate Commissioner in respect of unexplained investment made by the assessee and estimated by the Assessing Officer?" - we deem it proper to say that violation of a statute has to be curbed as otherwise violation would be a premium for violators for the purpose of tax benefits. - we accept this appeal. Questions of law raised in this appeal are answered in favour of the Revenue
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