https://www.taxtmi.com/caselaws?id=6692 Legal expenses incurred in resisting shareholder proceedings that challenged the appointment of directors and alleged mismanagement were held not deductible as business expenditure. Applying the test under section 10(2)(xv) of the Income-tax Act, 1922, the expenditure was found too remote from the actual carrying on of the company's business and not shown to have been laid out wholly and exclusively for that purpose. The deduction was therefore disallowed, and the reference was answered against the assessee. en-us Wed, 01 Dec 1965 00:00:00 +0530 Sun, 01 Feb 2009 11:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6692 Legal expenses incurred in resisting shareholder proceedings that challenged the appointment of directors and alleged mismanagement were held not deductible as business expenditure. Applying the test under section 10(2)(xv) of the Income-tax Act, 1922, the expenditure was found too remote from the actual carrying on of the company's business and not shown to have been laid out wholly and exclusively for that purpose. The deduction was therefore disallowed, and the reference was answered against the assessee. Case-Laws Income Tax Wed, 01 Dec 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6692