https://www.taxtmi.com/caselaws?id=62281 An accrued audit fee liability under mercantile accounting was treated as an ascertained obligation, so the deduction was allowed. Depreciation on machinery taken over from a dissolved firm was allowed on the enhanced revalued cost, consistent with the position accepted for an earlier year. Voluntary donations to hospital and school welfare committees were held not to qualify as business expenditure for lack of direct business nexus, though deduction under section 80G could still be examined on proof and verification. Directors' remuneration was allowed on the same basis accepted in the earlier year. Payment to the group gratuity insurance scheme and the investment allowance claim were also upheld. en-us Wed, 06 Aug 1997 00:00:00 +0530 Wed, 19 Jan 2011 10:47:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62281 An accrued audit fee liability under mercantile accounting was treated as an ascertained obligation, so the deduction was allowed. Depreciation on machinery taken over from a dissolved firm was allowed on the enhanced revalued cost, consistent with the position accepted for an earlier year. Voluntary donations to hospital and school welfare committees were held not to qualify as business expenditure for lack of direct business nexus, though deduction under section 80G could still be examined on proof and verification. Directors' remuneration was allowed on the same basis accepted in the earlier year. Payment to the group gratuity insurance scheme and the investment allowance claim were also upheld. Case-Laws Income Tax Wed, 06 Aug 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62281