https://www.taxtmi.com/caselaws?id=374839 A payment made to protect business reputation, goodwill and customer relations may qualify as business expenditure where it is incurred wholly for business purposes and not under any legal obligation, contractual liability or court direction. Applying that principle, the Bombay HC accepted that an amount paid to preserve business confidence and the sensitivity of the taxpayer's commercial standing was deductible, following precedent that treated similar outlays as revenue in nature when made to safeguard the banking business. The claim was accordingly allowed, and no substantial question of law arose. en-us Wed, 06 Feb 2019 00:00:00 +0530 Mon, 11 Feb 2019 19:21:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374839 A payment made to protect business reputation, goodwill and customer relations may qualify as business expenditure where it is incurred wholly for business purposes and not under any legal obligation, contractual liability or court direction. Applying that principle, the Bombay HC accepted that an amount paid to preserve business confidence and the sensitivity of the taxpayer's commercial standing was deductible, following precedent that treated similar outlays as revenue in nature when made to safeguard the banking business. The claim was accordingly allowed, and no substantial question of law arose. Case-Laws Income Tax Wed, 06 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374839