https://www.taxtmi.com/caselaws?id=20538 The court ruled in favor of the assessee for the assessment years 1973-74 and 1972-73, allowing deductions claimed for labour welfare expenses as revenue expenditure. It held that expenses incurred due to statutory obligations for trade continuation, without resulting in asset creation, qualify as revenue expenditure. The court cited relevant precedents to support its decision, emphasizing that such expenditure contributes to the welfare of the labor force and is permissible under the labour welfare account. No costs were awarded in this case. en-us Fri, 25 Sep 1992 00:00:00 +0530 Sat, 14 Nov 2009 15:45:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20538 The court ruled in favor of the assessee for the assessment years 1973-74 and 1972-73, allowing deductions claimed for labour welfare expenses as revenue expenditure. It held that expenses incurred due to statutory obligations for trade continuation, without resulting in asset creation, qualify as revenue expenditure. The court cited relevant precedents to support its decision, emphasizing that such expenditure contributes to the welfare of the labor force and is permissible under the labour welfare account. No costs were awarded in this case. Case-Laws Income Tax Fri, 25 Sep 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20538