Want to know more
Enter the details and we'll call you soon

Name :

Company Name :

City :

Mobile No. :

Email id :

  

Thank you for your details



Our Executive will reach you shortly.

Your Session Will Expire in   seconds.
If you do not wish to log-out, choose 'Let me continue'
Reset SessionCancel Session
 
Skip Navigation Links

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)
21 Views

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

read more

taxmann.com
Payment
Best view in 1140 x 768