https://www.taxtmi.com/caselaws?id=20700 The High Court of Calcutta clarified that in the case of a company in voluntary liquidation, only actual expenses incurred for specific staff members and office rent should be allowed as deductions for computing income from other sources. The Court emphasized the necessity for a company in liquidation to maintain staff for statutory duties until the winding-up process is complete. The judgment specified that expenses on salary, wages, and rent should be limited to actual expenditure and not generalized costs. en-us Mon, 14 Jan 1991 00:00:00 +0530 Mon, 16 Nov 2009 16:48:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20700 The High Court of Calcutta clarified that in the case of a company in voluntary liquidation, only actual expenses incurred for specific staff members and office rent should be allowed as deductions for computing income from other sources. The Court emphasized the necessity for a company in liquidation to maintain staff for statutory duties until the winding-up process is complete. The judgment specified that expenses on salary, wages, and rent should be limited to actual expenditure and not generalized costs. Case-Laws Income Tax Mon, 14 Jan 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20700