https://www.taxtmi.com/caselaws?id=211944 The High Court held that settlement charges and legal expenses incurred for obtaining a Consent Decree were deductible under the Income-tax Act. The payments were deemed to be for commercial expediency to resolve disputes and facilitate business operations. The court found that the expenses were necessary to remove hindrances in conducting business and were thus allowable deductions. The Tribunal's decision allowing the deductions was upheld, and the judgment favored the assessee, disposing of the reference with no order as to costs. en-us Fri, 30 Mar 2012 00:00:00 +0530 Fri, 17 Aug 2012 13:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211944 The High Court held that settlement charges and legal expenses incurred for obtaining a Consent Decree were deductible under the Income-tax Act. The payments were deemed to be for commercial expediency to resolve disputes and facilitate business operations. The court found that the expenses were necessary to remove hindrances in conducting business and were thus allowable deductions. The Tribunal's decision allowing the deductions was upheld, and the judgment favored the assessee, disposing of the reference with no order as to costs. Case-Laws Income Tax Fri, 30 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211944