https://www.taxtmi.com/caselaws?id=382846 The High Court dismissed the Revenue's appeals, leaving the first and second substantial questions open for reassessment by the Assessing Officer. The Court ruled against the Revenue on the third substantial question regarding the allowability of expenditure under Section 37(1) after deductions under Section 36(1)(iv) and (v). The Court upheld the Tribunal's decision, emphasizing that the pension payments made to retired employees were legitimate business expenses in accordance with statutory regulations. en-us Wed, 19 Jun 2019 00:00:00 +0530 Thu, 11 Jul 2019 07:54:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382846 The High Court dismissed the Revenue's appeals, leaving the first and second substantial questions open for reassessment by the Assessing Officer. The Court ruled against the Revenue on the third substantial question regarding the allowability of expenditure under Section 37(1) after deductions under Section 36(1)(iv) and (v). The Court upheld the Tribunal's decision, emphasizing that the pension payments made to retired employees were legitimate business expenses in accordance with statutory regulations. Case-Laws Income Tax Wed, 19 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382846