https://www.taxtmi.com/caselaws?id=21343 The HC upheld the Tribunal's decision allowing the assessee-company's expenditure as deductible while computing income from other sources. It held that a limited company, even if not carrying on business, must maintain its corporate establishment to comply with statutory obligations so long as it remains in existence and is not dissolved or struck off. Expenses on clerical staff, secretary/accountant, and incidental establishment costs were found to be incurred wholly and exclusively for earning income and for maintaining corporate status. The HC therefore answered the question in the affirmative, in favour of the assessee and against the Revenue. en-us Tue, 09 May 1989 00:00:00 +0530 Thu, 04 Dec 2025 10:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21343 The HC upheld the Tribunal's decision allowing the assessee-company's expenditure as deductible while computing income from other sources. It held that a limited company, even if not carrying on business, must maintain its corporate establishment to comply with statutory obligations so long as it remains in existence and is not dissolved or struck off. Expenses on clerical staff, secretary/accountant, and incidental establishment costs were found to be incurred wholly and exclusively for earning income and for maintaining corporate status. The HC therefore answered the question in the affirmative, in favour of the assessee and against the Revenue. Case-Laws Income Tax Tue, 09 May 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21343