https://www.taxtmi.com/caselaws?id=15987 The court upheld the allowance of a pension payment made to the wife of a former director by a company, considering it a legitimate business expenditure aimed at recognizing the director's past service and enhancing goodwill. The court emphasized the commercial expediency and employee welfare objectives behind the payment, ruling in favor of the assessee and allowing the deduction under section 37 of the Income-tax Act, 1961. The decision aligned with established legal principles and precedents, affirming the pension payment as a valid business expense based on commercial considerations and employee welfare goals. en-us Tue, 18 Feb 1997 00:00:00 +0530 Mon, 31 Aug 2009 13:15:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15987 The court upheld the allowance of a pension payment made to the wife of a former director by a company, considering it a legitimate business expenditure aimed at recognizing the director's past service and enhancing goodwill. The court emphasized the commercial expediency and employee welfare objectives behind the payment, ruling in favor of the assessee and allowing the deduction under section 37 of the Income-tax Act, 1961. The decision aligned with established legal principles and precedents, affirming the pension payment as a valid business expense based on commercial considerations and employee welfare goals. Case-Laws Income Tax Tue, 18 Feb 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15987