https://www.taxtmi.com/caselaws?id=246857 The High Court upheld the Tribunal's decision, allowing the deduction for ex-gratia payments to employees not covered by the Payment of Bonus Act under Section 37(1) of the Income Tax Act, 1961. The Court held that such payments, made as an incentive for business expediency, were eligible for deduction as business expenditure. The Revenue's appeal was dismissed, ruling in favor of the assessee without costs. en-us Wed, 16 Apr 2014 00:00:00 +0530 Thu, 24 Apr 2014 08:03:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=246857 The High Court upheld the Tribunal's decision, allowing the deduction for ex-gratia payments to employees not covered by the Payment of Bonus Act under Section 37(1) of the Income Tax Act, 1961. The Court held that such payments, made as an incentive for business expediency, were eligible for deduction as business expenditure. The Revenue's appeal was dismissed, ruling in favor of the assessee without costs. Case-Laws Income Tax Wed, 16 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=246857