CBDT Clarifies Disallowance of Legal Settlement Expenses under Section 37 via FAQs

Last updated: 25 April 2025

FAQs on Notification No. 38/2025 [F. No 370142/11/2025-TPL] / SO 1838(E) Q1. What is Section 37 of the Income-tax Act, 1961 ('the Act')? Ans. Section 37 of the Act provides for the allowability of expenditure laid out or expended wholly andexclusively for the purpose of business or profession.
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