https://www.taxtmi.com/caselaws?id=16314 Additional foreign exchange cost on imported machinery was treated as part of the capital outlay and not as revenue expenditure, so no deduction was available under section 43A on the facts stated. Amounts transferred to reserve under section 205(2A) of the Companies Act, 1956 were held to be appropriations out of accrued profits, not a diversion by overriding title or a deductible outgoing. Surtax liability under the Companies (Profits) Surtax Act, 1964 was not allowable as a business deduction. Amounts set aside under section 15 of the Payment of Bonus Act were regarded as a statutory appropriation for a future contingent liability and not as expenditure, loss, or a trading liability of the year. en-us Fri, 28 Nov 1997 00:00:00 +0530 Sat, 05 Sep 2009 18:17:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16314 Additional foreign exchange cost on imported machinery was treated as part of the capital outlay and not as revenue expenditure, so no deduction was available under section 43A on the facts stated. Amounts transferred to reserve under section 205(2A) of the Companies Act, 1956 were held to be appropriations out of accrued profits, not a diversion by overriding title or a deductible outgoing. Surtax liability under the Companies (Profits) Surtax Act, 1964 was not allowable as a business deduction. Amounts set aside under section 15 of the Payment of Bonus Act were regarded as a statutory appropriation for a future contingent liability and not as expenditure, loss, or a trading liability of the year. Case-Laws Income Tax Fri, 28 Nov 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16314