https://www.taxtmi.com/caselaws?id=11538 HC held that payments under a voluntary retirement scheme constituted revenue expenditure incurred wholly and exclusively for business and were not referable to any income-yielding asset, so were allowable in the year incurred rather than spread over years. Relying on the Supreme Court principle that certain expenditures conferring no enduring benefit may be fully deductible, the court applied that test and allowed VRS costs of Rs. 6,79,06,431 to the assessee, rejecting the Assessing Officer's attempt to defer recovery of gratuity, bonus and LTA over 60 months. en-us Wed, 26 Feb 2003 00:00:00 +0530 Mon, 29 Sep 2025 14:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11538 HC held that payments under a voluntary retirement scheme constituted revenue expenditure incurred wholly and exclusively for business and were not referable to any income-yielding asset, so were allowable in the year incurred rather than spread over years. Relying on the Supreme Court principle that certain expenditures conferring no enduring benefit may be fully deductible, the court applied that test and allowed VRS costs of Rs. 6,79,06,431 to the assessee, rejecting the Assessing Officer's attempt to defer recovery of gratuity, bonus and LTA over 60 months. Case-Laws Income Tax Wed, 26 Feb 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11538