Concessional Basic Customs Duty on Ethernet switches: classification as enterprise switches upheld, challenge dismissed for lack of substantial law qu...
Insolvency petition based on admitted debt and default upheld; challenge for malicious initiation rejected, settlement may proceed under resolution fr...
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Payment made to a labour union for facilitating a mutually acceptable settlement with workers was examined for allowability as business expenditure under s. 37(1) on the test of commercial expediency. Since the taxpayer demonstrated a direct nexus between the payment (made through banking channels) and its business activity of resolving labour issues through dialogue and settlement, the expenditure was held to be incurred wholly and exclusively for the purposes of business. Accordingly, the deduction under s. 37(1) was allowed and the appeal was allowed. - ITAT
Payment made to a labour union for facilitating a mutually acceptable settlement with workers was examined for allowability as business expenditure under s. 37(1) on the test of commercial expediency. Since the taxpayer demonstrated a direct nexus between the payment (made through banking channels) and its business activity of resolving labour issues through dialogue and settlement, the expenditure was held to be incurred wholly and exclusively for the purposes of business. Accordingly, the deduction under s. 37(1) was allowed and the appeal was allowed. - ITAT
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