https://www.taxtmi.com/caselaws?id=249570 The High Court upheld the decision of the Income Tax Appellate Tribunal (ITAT) to allow the deduction of severance pay under section 35DDA of the Income Tax Act 1961. The court found that the severance pay could be amortized over five years as it was deemed a revenue expenditure not directly related to closing down the business. The court dismissed the appeal, stating that no substantial question of law was raised and emphasizing the correctness of the ITAT's factual and legal analysis in permitting the deduction under section 35DDA. en-us Wed, 09 Jul 2014 00:00:00 +0530 Thu, 21 Aug 2014 11:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249570 The High Court upheld the decision of the Income Tax Appellate Tribunal (ITAT) to allow the deduction of severance pay under section 35DDA of the Income Tax Act 1961. The court found that the severance pay could be amortized over five years as it was deemed a revenue expenditure not directly related to closing down the business. The court dismissed the appeal, stating that no substantial question of law was raised and emphasizing the correctness of the ITAT's factual and legal analysis in permitting the deduction under section 35DDA. Case-Laws Income Tax Wed, 09 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249570