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Fine for irregularities committed in process of importing goods can’t be claimed as an expense

February 26, 2019[2019] 102 taxmann.com 409 (Bombay)

IT : Where there was ample evidence on record suggesting that assessee had made imports through his direct involvement by using import licence of RB and that RB was only entitled to service charges and further redemption fine was paid by assessee, assessee could not not disassociate or divest himself from irregularities or illegalities committed in process of importing goods and penalty was levied for infraction of law committed by assessee. Under these circumstances, redemption fine was not an allowable business expenditure

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