In an assessee-favor ruling, the Indore Bench of Income Tax Appellate Tribunal (ITAT) has held that penalty paid to stock exchange is a regular business expenditure. The issue before the division bench comprising Shri Kul Bharat as the Judicial Member and Shri Manish Board as the Accountant Member was with respect to the disallowance made by the […]
The post Penalty paid to Stock Exchange is a regular Business Expenditure: ITAT allows Deduction [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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