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of <h1>High Court allows settling allowance as deductible expense for company, affirming Tribunal decision</h1> The High Court of Madras allowed the settling allowance as a deductible expense for the assessee company, ruling in their favor. The court deemed the ... Revenue Expenditure The High Court of Madras ruled in favor of the assessee company, allowing the settling allowance of Rs. 16,000 paid to employees in connection with shifting the factory as a deductible expense. The court held that the allowance was revenue expenditure and not capital expenditure, citing a Supreme Court decision. The Tribunal's decision to allow the deduction was upheld.
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