Payments were made to various state government departments for delay in submission of form or document or compliance with the procedures, in which case, the payment was not for violation of law but compensation for not complying with law and was allowable expenditure as normal business expenditure u/s 37(1).
Executive Engineer of Uttar Gujrat VIJ Company Ltd. Vs Devang P Samapat RP of M/s. Kanoovi Foods Pvt. Ltd. (NCLAT Delhi) If the electricity consumption was for manufacturing and output of the Biscuits which is the normal operation of the Corporate Debtor, in that case dues arising from such supply of electricity during moratorium would […]
The allegation of AO that the opening stock of assessee was an unexplained income of the assessee as such stock in trade was not in existence seem to be unsustainable because why a person would show and on accounted opening stock of the magnitude of ₹ 51,000,000 just to on a meager net profit of ₹ 875,000/–.
