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Fee u/s 234e

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(Querist)
07 January 2015 hlo friends, whether fee paid u/s 234E is allowed or not as per income tax act
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
07 January 2015 It is penal in nature and therefore it will be disallowed.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
07 January 2015 Should be disallowed u/s.37(1)since the consequence of default committed by a businessman in discharging his statutory obligation will not constitute an expenditure exclusively incurred for the purpose of his business.
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