Traffic Violation Fee Allowable as Business Expense u/s 37(1) of Income Tax Act.

Payment made towards traffic rule violation - whether revenue expenditure u/s 37(1) - whether such payments made were for an offence or is prohibited by law? - payment of compounding fee for violation of provision under the Motor Vehicles Act, 1988 and Rules thereunder - such expenditure is allowable as business expenditure under section 37(1) - AT .....

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