https://www.taxtmi.com/caselaws?id=9138 A payment initially advanced as a loan but later adjusted as bonus did not lose its character as bonus merely because of its earlier form, and the Tribunal must re-examine deductibility under the statutory proviso. Litigation expenses incurred in a dispute arising from the company's affairs were held to be wholly and exclusively for business, as they were not personal or capital in nature. Railway sidings used for transporting raw materials and finished goods were treated as machinery or plant for development rebate purposes, since they were installed for business use. Two claims were upheld and the bonus issue was remitted for reconsideration. en-us Tue, 01 May 1973 00:00:00 +0530 Fri, 19 Jun 2009 17:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9138 A payment initially advanced as a loan but later adjusted as bonus did not lose its character as bonus merely because of its earlier form, and the Tribunal must re-examine deductibility under the statutory proviso. Litigation expenses incurred in a dispute arising from the company's affairs were held to be wholly and exclusively for business, as they were not personal or capital in nature. Railway sidings used for transporting raw materials and finished goods were treated as machinery or plant for development rebate purposes, since they were installed for business use. Two claims were upheld and the bonus issue was remitted for reconsideration. Case-Laws Income Tax Tue, 01 May 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9138