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25 January 2014 Penalty for contravention of Sales Tax - is it a Disallowable Expense.
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AVTAR SINGH

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AVTAR SINGH (Expert)
25 January 2014 Yes. Penalty is disallowed in for computing taxable income.
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C.A. Mayur J. Raiyani

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C.A. Mayur J. Raiyani (Expert)
25 January 2014 agree with Avtar
you can also refer case study Malwa Vanaspati & Chemical Co.Vs. 1997.
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