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Allowable exoense

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(Querist)
29 August 2011 whether demand order raised under sales tax act treated es allowable expenditure under pgbp head and under which section?
Demand order contins part of sales tax,interest & penalty?
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
29 August 2011 Part of sales tax and interest can be allowed u/s 37(1) r. w. s. 43B but penalty paid would be disallowed u/s 37(1) itself.

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