https://www.taxtmi.com/caselaws?id=19731 Compensation and notice pay paid under a voluntary retirement scheme were held deductible as business expenditure because the payment was made under an agreed scheme and was incurred on grounds of commercial expediency in the course of business restructuring. The court applied the principle that expenditure laid out wholly and exclusively for business purposes can include compensation for termination of employment where it helps maintain labour relations and facilitate restructuring. The deduction was allowed in favour of the assessee. en-us Wed, 23 Mar 1994 00:00:00 +0530 Mon, 09 Nov 2009 13:05:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19731 Compensation and notice pay paid under a voluntary retirement scheme were held deductible as business expenditure because the payment was made under an agreed scheme and was incurred on grounds of commercial expediency in the course of business restructuring. The court applied the principle that expenditure laid out wholly and exclusively for business purposes can include compensation for termination of employment where it helps maintain labour relations and facilitate restructuring. The deduction was allowed in favour of the assessee. Case-Laws Income Tax Wed, 23 Mar 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19731