https://www.taxtmi.com/caselaws?id=62789 The Tribunal upheld the allowance of Rs. 4,52,344 as a revenue expenditure, considering it an enforceable liability created by the assessee. However, the deduction of Rs. 9,58,969 for an extra payment of 0.80 paise per share was disallowed. The Tribunal deemed this payment as compensation for delays and non-payment of dividends, not interest, and therefore not allowable as a business expenditure. The appeal was partly allowed, affirming the enforceable liability but rejecting the characterization of the extra payment as interest. en-us Wed, 29 Dec 1982 00:00:00 +0530 Fri, 21 Jan 2011 17:30:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62789 The Tribunal upheld the allowance of Rs. 4,52,344 as a revenue expenditure, considering it an enforceable liability created by the assessee. However, the deduction of Rs. 9,58,969 for an extra payment of 0.80 paise per share was disallowed. The Tribunal deemed this payment as compensation for delays and non-payment of dividends, not interest, and therefore not allowable as a business expenditure. The appeal was partly allowed, affirming the enforceable liability but rejecting the characterization of the extra payment as interest. Case-Laws Income Tax Wed, 29 Dec 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62789