The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ), while deleting a penalty order, has held that the payments made to the Securities Exchange Board of India (SEBI) under a Consent Order are allowable as business expenditure under the Income Tax Act. The Assessing Officer had levied penalty under section 271(1)(c) of […]
The post Payment to SEBI under Consent Order is Business Expenditure: ITAT deletes Penalty [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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