https://www.taxtmi.com/caselaws?id=15115 Compensation paid to workmen on closure of a manufacturing unit under section 25FFF of the Industrial Disputes Act was held to be capital in nature because the liability arose only on shutting down the business unit and was directly connected with bringing the business to an end. It was therefore not expenditure laid out wholly and exclusively for carrying on the business. The payment was not deductible as revenue expenditure. en-us Tue, 21 Apr 1998 00:00:00 +0530 Mon, 03 Aug 2009 11:36:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15115 Compensation paid to workmen on closure of a manufacturing unit under section 25FFF of the Industrial Disputes Act was held to be capital in nature because the liability arose only on shutting down the business unit and was directly connected with bringing the business to an end. It was therefore not expenditure laid out wholly and exclusively for carrying on the business. The payment was not deductible as revenue expenditure. Case-Laws Income Tax Tue, 21 Apr 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15115