https://www.taxtmi.com/caselaws?id=15065 The court upheld the deduction of salaries and wages payable under the Industrial Tribunal's award, stating that the liability had arisen and was enforceable. However, it disallowed the deduction of betterment levy paid to the Ahmedabad Municipal Corporation, expenses incurred on issuance of share certificates and bonds due to amalgamation, and accrued liability of gratuity. The court remanded the issue of weighted deduction claims for exchange and bank charges for further inquiry. The judgment emphasizes the importance of adhering to tax law provisions and conducting thorough investigations into claimed deductions. en-us Fri, 18 Dec 1998 00:00:00 +0530 Thu, 30 Jul 2009 13:56:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15065 The court upheld the deduction of salaries and wages payable under the Industrial Tribunal's award, stating that the liability had arisen and was enforceable. However, it disallowed the deduction of betterment levy paid to the Ahmedabad Municipal Corporation, expenses incurred on issuance of share certificates and bonds due to amalgamation, and accrued liability of gratuity. The court remanded the issue of weighted deduction claims for exchange and bank charges for further inquiry. The judgment emphasizes the importance of adhering to tax law provisions and conducting thorough investigations into claimed deductions. Case-Laws Income Tax Fri, 18 Dec 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15065