https://www.taxtmi.com/caselaws?id=66143 The tribunal dismissed the appeal, upholding the decision to disallow a gratuity payment of Rs. 24,000 to employees upon business closure. The tribunal determined that the payment was made after the closure of the business and did not qualify as a deductible business expenditure, as it was not incurred in the course of the business or for the purpose of the business. Various judicial precedents were cited to support the decision, emphasizing that payments made post-business closure, such as retrenchment compensation, are not allowable as business expenditures. en-us Wed, 05 Feb 1986 00:00:00 +0530 Mon, 21 Feb 2011 17:43:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66143 The tribunal dismissed the appeal, upholding the decision to disallow a gratuity payment of Rs. 24,000 to employees upon business closure. The tribunal determined that the payment was made after the closure of the business and did not qualify as a deductible business expenditure, as it was not incurred in the course of the business or for the purpose of the business. Various judicial precedents were cited to support the decision, emphasizing that payments made post-business closure, such as retrenchment compensation, are not allowable as business expenditures. Case-Laws Income Tax Wed, 05 Feb 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66143