https://www.taxtmi.com/caselaws?id=103151 The High Court ruled against the revenue regarding the deductibility of legal charges for advice on shareholding dilution, deeming it of a capital nature. It favored the assessee in the applicability of section 80VV on remuneration paid to a director, allowing the full deduction. Additionally, the court sided with the assessee on the allowability of expenditure on presenting wrist watches to employees, considering it a business expense to maintain goodwill, ultimately ruling in favor of the assessee on all three issues. en-us Mon, 06 Jul 1992 00:00:00 +0530 Tue, 21 Feb 2012 10:48:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103151 The High Court ruled against the revenue regarding the deductibility of legal charges for advice on shareholding dilution, deeming it of a capital nature. It favored the assessee in the applicability of section 80VV on remuneration paid to a director, allowing the full deduction. Additionally, the court sided with the assessee on the allowability of expenditure on presenting wrist watches to employees, considering it a business expense to maintain goodwill, ultimately ruling in favor of the assessee on all three issues. Case-Laws Income Tax Mon, 06 Jul 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103151