https://www.taxtmi.com/caselaws?id=66294 The Tribunal allowed the appeal by the assessee, recognizing the Silver Jubilee Bonus as a deductible business expenditure under s. 10(2)(xv) of the IT Act. The payment was considered legitimate, expedient, and incidental to the business, aimed at business promotion during the Silver Jubilee celebrations. It was held not to be capital or personal expenditure but a valid business expense wholly and exclusively for business purposes. The Tribunal overturned the earlier disallowance, allowing the deduction under the head 'profit and gains of business.' en-us Fri, 31 Oct 1980 00:00:00 +0530 Wed, 23 Feb 2011 13:39:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66294 The Tribunal allowed the appeal by the assessee, recognizing the Silver Jubilee Bonus as a deductible business expenditure under s. 10(2)(xv) of the IT Act. The payment was considered legitimate, expedient, and incidental to the business, aimed at business promotion during the Silver Jubilee celebrations. It was held not to be capital or personal expenditure but a valid business expense wholly and exclusively for business purposes. The Tribunal overturned the earlier disallowance, allowing the deduction under the head 'profit and gains of business.' Case-Laws Income Tax Fri, 31 Oct 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66294