https://www.taxtmi.com/caselaws?id=75608 The High Court allowed the deduction of Rs.1,06,57,907 under section 37(1) of the Income-tax Act for the amount paid by the assessee towards terminal dues under a voluntary retirement scheme (VRS). The Court held that the expenditure was revenue in nature, as it facilitated business operations without affecting fixed capital, in line with established legal precedents. The Revenue's appeal was dismissed, affirming the Tribunal's decision in favor of the assessee. en-us Fri, 21 Nov 2008 00:00:00 +0530 Fri, 01 Feb 2013 12:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75608 The High Court allowed the deduction of Rs.1,06,57,907 under section 37(1) of the Income-tax Act for the amount paid by the assessee towards terminal dues under a voluntary retirement scheme (VRS). The Court held that the expenditure was revenue in nature, as it facilitated business operations without affecting fixed capital, in line with established legal precedents. The Revenue's appeal was dismissed, affirming the Tribunal's decision in favor of the assessee. Case-Laws Income Tax Fri, 21 Nov 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75608