Disallowance made u/s. 37(1) on account of penal excise duty ...

Court Rules Penal Excise Duty Not Disallowed u/s 37(1) If Not Penal in Nature.

May 4, 2018

Case Laws Income Tax HC

Disallowance made u/s. 37(1) on account of penal excise duty debited in P & L Account - when the amount is not penalty in nature, explanation of Section 37 will not come into play - HC

View Source

← Previous Next →

Disallowance made u/s. 37(1) on account of penal excise duty ...

Court Rules Penal Excise Duty Not Disallowed u/s 37(1) If Not Penal in Nature.

May 4, 2018

Case Laws Income Tax HC

You may also like:

Deduction u/s 37(1) - Nature of payment - Whether shaman shulk paid to Excise Department is penal in nature - The amount cannot be treated to be penalty, which can be...

Since Appellant were paying the duty utilizing the CENVAT Credit they cannot be charged for contravention of the provisions of Rule 4, 8(1), 8(3) & 8(3A) of the Central...

Amount paid towards penalty for breach of commercial contract by the assessee is not penal in nature, but compensatory in nature - deduction u/s 37(1) allowed - HC

ITAT ruled against double taxation of personal credit card expenses initially disallowed under s.37(1) in company's returns. Where company had already acknowledged...

Deduction u/s 37(1) - Whether, payment of interest on delayed payment of instalments is penal in nature - Held No - It was simplicitor liability of interest on delayed...

The assessee claimed deduction for interest and late fees paid on account of delay in filing GST returns. The authorities disallowed the claim, invoking Explanation 1 to...

Business expenditure u/s 37(1) - when a payment by way of impost or by way of penalty or interest is purely compensatory and not penal in nature, the same should be...

The ITAT allowed the assessee's appeal, holding that contributions made to the unrecognized provident fund and unapproved pension fund were eligible for deduction under...

The High Court's judgment addressed the interpretation of Section 43A regarding losses arising from exchange rate fluctuations on foreign currency loans utilized for...

Allowable u/s 37(1)- Whether the expenses incurred on construction of tennis court are allowable as revenue expenses or are capital in nature - the expenditure on Black...

Interpretation of Section 11D of the Central Excise Act, 1944, regarding the recovery of amounts collected as excise duty but not deposited with the government. The key...

Disallowance u/s 37 of interest paid on delayed payment of additional Customs Duty was challenged, contending that it was not penal in nature but compensation for delay...

Allowable revenue expenditure u/s 37(1) - Writing off of advance given to the Director - waiver of excess remuneration paid to the Director - The provisions of Section...

Punitive charges paid to Railways for overloading of the wagons is compensatory in nature, therefore, the same cannot be disallowed by invoking the provisions of...

Disallowance of prior period expenses pertaining to expenditure crystallized or details received after completion of earlier years' audits. Genuineness not doubted,...

Quick Updates: