https://www.taxtmi.com/caselaws?id=247966 The Court allowed the deduction of Rs.1,08,41,068 payment made on retrenchment of workmen as revenue expenditure, emphasizing the ongoing nature of the business and lack of evidence for complete closure. The Tribunal's decision was upheld, citing relevant case law supporting deductions for business purposes. The Court also considered interest paid for borrowing money for the payments as a business expenditure. The appellant's challenge was dismissed, and the Court appreciated the amicus curiae's contributions. en-us Fri, 11 Apr 2014 00:00:00 +0530 Wed, 28 May 2014 10:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247966 The Court allowed the deduction of Rs.1,08,41,068 payment made on retrenchment of workmen as revenue expenditure, emphasizing the ongoing nature of the business and lack of evidence for complete closure. The Tribunal's decision was upheld, citing relevant case law supporting deductions for business purposes. The Court also considered interest paid for borrowing money for the payments as a business expenditure. The appellant's challenge was dismissed, and the Court appreciated the amicus curiae's contributions. Case-Laws Income Tax Fri, 11 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247966