https://www.taxtmi.com/caselaws?id=184194 An outright payment made to secure an employee's services was treated as expenditure incurred when paid, not as a reserve to be written off year by year; the annual write-offs were therefore not allowable deductions because they did not represent expense incurred in those later years. Foreign profits tax paid in Ceylon was also stated to be inadmissible under the Indian Income-tax Act, 1922, as section 10(4) excludes tax on business profits from deduction and such tax is not expenditure laid out wholly and exclusively for business. The stated result was that both deductions were denied. en-us Thu, 19 Apr 1962 00:00:00 +0530 Fri, 01 Jul 2016 17:50:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184194 An outright payment made to secure an employee's services was treated as expenditure incurred when paid, not as a reserve to be written off year by year; the annual write-offs were therefore not allowable deductions because they did not represent expense incurred in those later years. Foreign profits tax paid in Ceylon was also stated to be inadmissible under the Indian Income-tax Act, 1922, as section 10(4) excludes tax on business profits from deduction and such tax is not expenditure laid out wholly and exclusively for business. The stated result was that both deductions were denied. Case-Laws Income Tax Thu, 19 Apr 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184194