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Part of purchase amount not received from buyer due to defect in supplied materials allowable as deduction

January 24, 2020[2020] 113 261 (Delhi - Trib.)/[2020] 77 ITR(T) 165 (Delhi - Trib.)/[2020] 180 ITD 730 (Delhi - Trib.)

INCOME TAX : Where assessee company incurred expenditure by way of receiving lesser payment from buyers of coal because of supplied coal containing high moisture and low calorific value, merely because assessee categorised such expenditure as penalty levied for not complying to terms of contract with buyers, it could not be said that such expenditure was incurred for infraction of law so as to attract provisions under Explanation 1 to section 37 (1) and same was an allowable deduction
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