Case Law Details
Case Name : Western Coalfields Vs. ACIT (ITAT Nagpur)
Related Assessment Year : 2003-04
Courts :
All ITAT ITAT Nagpur
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Explanation to s. 37 (1) does not apply to “penalty” which is not of the nature of illegal / unlawful expenditure
The assessee became liable to pay “penalty” for overloading wagons under the rules of the Railways. The question arose whether the said “penalty” was disallowable under the Explanation to s. 37 (1) which provides that “expenditure incurred for any purpose which is an offence or which is prohibited by law” shall not be allowable. HELD, deci
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