S.37 : Business Expenditure, Amounts Paid, Release From Kidnappers
Description: Business expenditure – Deduction while kidnapping is an offence, paying ransom is not – Bar in Explanation 1 to s. 37 (1) not attracted. Where a payment is made by assessee as ransom to secure the release of a kidnapped person, it was held that such payment is not prohibited. The Explanation of s.37(1) […]
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