https://www.taxtmi.com/caselaws?id=272815 Audit expenses and costs of court-directed general body meetings were treated as incidental to the company's business and allowable as business expenditure under section 10(2)(xv) on commercial expediency principles. The court considered these steps part of the normal conduct of business, including the process leading to election of a new board. However, remuneration paid to the interim administrator and legal fees incurred to resist proceedings under section 153C were not allowable, because that proceeding was viewed as an internal management dispute rather than a genuine threat to the company's existence or a winding-up matter justifying such expenditure. en-us Wed, 20 Jan 1965 00:00:00 +0530 Fri, 18 May 2018 17:49:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272815 Audit expenses and costs of court-directed general body meetings were treated as incidental to the company's business and allowable as business expenditure under section 10(2)(xv) on commercial expediency principles. The court considered these steps part of the normal conduct of business, including the process leading to election of a new board. However, remuneration paid to the interim administrator and legal fees incurred to resist proceedings under section 153C were not allowable, because that proceeding was viewed as an internal management dispute rather than a genuine threat to the company's existence or a winding-up matter justifying such expenditure. Case-Laws Income Tax Wed, 20 Jan 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272815