https://www.taxtmi.com/caselaws?id=22439 Damages paid for continued use and occupation of premises from which business was conducted qualify as revenue expenditure when incurred wholly for business purposes. Such payments are deductible in computing taxable income under section 37(1), making the related revenue addition unsustainable. Once the full damages amount is allowed as a deduction, no basis remains for charging interest under sections 139, 215 and 217(1A) on the resulting tax computation. The deduction and consequential deletion of interest apply where the occupation-related damages are directly connected with carrying on the business. en-us Wed, 26 Dec 1990 00:00:00 +0530 Thu, 10 Dec 2009 11:23:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22439 Damages paid for continued use and occupation of premises from which business was conducted qualify as revenue expenditure when incurred wholly for business purposes. Such payments are deductible in computing taxable income under section 37(1), making the related revenue addition unsustainable. Once the full damages amount is allowed as a deduction, no basis remains for charging interest under sections 139, 215 and 217(1A) on the resulting tax computation. The deduction and consequential deletion of interest apply where the occupation-related damages are directly connected with carrying on the business. Case-Laws Income Tax Wed, 26 Dec 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22439