All interest in the nature of penalty (for infraction of law) not allowable as business expenditure.
Though interest and penalties compensatory in nature is allowable business expenditure.
CA Dhirendra Singh
(Expert)
(34 Points)
Replied 05 January 2017
All interest in the nature of penalty (for infraction of law) not allowable as business expenditure.
Though interest and penalties compensatory in nature is allowable business expenditure.
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