https://www.taxtmi.com/caselaws?id=259094 The High Court upheld the deduction claimed by the assessee under Section 37 of the Income-tax Act, 1961, for the payment made to satisfy a decree obtained against its Director. The Court emphasized the commercial expediency of the payment, stating it was necessary to protect the company's reputation and assets. The Court dismissed the revenue's appeal, ruling in favor of the assessee and emphasizing the importance of commercial expediency in business decisions. en-us Tue, 02 Dec 2014 00:00:00 +0530 Thu, 30 Apr 2015 06:08:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259094 The High Court upheld the deduction claimed by the assessee under Section 37 of the Income-tax Act, 1961, for the payment made to satisfy a decree obtained against its Director. The Court emphasized the commercial expediency of the payment, stating it was necessary to protect the company's reputation and assets. The Court dismissed the revenue's appeal, ruling in favor of the assessee and emphasizing the importance of commercial expediency in business decisions. Case-Laws Income Tax Tue, 02 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259094