https://www.taxtmi.com/caselaws?id=271706 The court held that the payment made by the appellant to the Calcutta Port Trust was compensatory and deductible under Section 37(1) of the Income Tax Act. It was found not to be capital in nature, and the Tribunal's decision was deemed erroneous. The appeal was allowed in favor of the assessee, with each party bearing its own costs. en-us Tue, 02 Feb 2016 00:00:00 +0530 Sat, 13 Feb 2016 10:07:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271706 The court held that the payment made by the appellant to the Calcutta Port Trust was compensatory and deductible under Section 37(1) of the Income Tax Act. It was found not to be capital in nature, and the Tribunal's decision was deemed erroneous. The appeal was allowed in favor of the assessee, with each party bearing its own costs. Case-Laws Income Tax Tue, 02 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271706