https://www.taxtmi.com/caselaws?id=15773 The court ruled in favor of the assessee in a case involving the interpretation of section 40(c) of the Income-tax Act regarding deductions for remuneration paid to managerial staff and the allowability of deductions for contributions made to an approved gratuity fund. The court upheld the decisions of the Appellate Tribunal, finding that the payments were reasonable and not based on extra commercial considerations. It held that both deductions were admissible, rejecting the Revenue's arguments. No costs were awarded in the case. en-us Wed, 24 Dec 1997 00:00:00 +0530 Sat, 29 Aug 2009 10:24:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15773 The court ruled in favor of the assessee in a case involving the interpretation of section 40(c) of the Income-tax Act regarding deductions for remuneration paid to managerial staff and the allowability of deductions for contributions made to an approved gratuity fund. The court upheld the decisions of the Appellate Tribunal, finding that the payments were reasonable and not based on extra commercial considerations. It held that both deductions were admissible, rejecting the Revenue's arguments. No costs were awarded in the case. Case-Laws Income Tax Wed, 24 Dec 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15773