https://www.taxtmi.com/caselaws?id=22757 The High Court ruled that an ex gratia payment exceeding the statutory limit must meet the conditions of section 36(1)(ii) to be deductible. It directed the Tribunal to reconsider the deduction based on established criteria. Regarding the deduction of prior paid expenses, the Court instructed the Tribunal to assess if the liability was incurred in the relevant year. The Court rejected the admissibility of a short provision made good for stores under prior paid expenses, directing the Tribunal to refrain from unauthorized considerations and ruling against the assessee in favor of the Revenue. The Tribunal was tasked with thorough reevaluation based on the Court's directions. en-us Mon, 10 Sep 1990 00:00:00 +0530 Sat, 12 Dec 2009 17:11:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22757 The High Court ruled that an ex gratia payment exceeding the statutory limit must meet the conditions of section 36(1)(ii) to be deductible. It directed the Tribunal to reconsider the deduction based on established criteria. Regarding the deduction of prior paid expenses, the Court instructed the Tribunal to assess if the liability was incurred in the relevant year. The Court rejected the admissibility of a short provision made good for stores under prior paid expenses, directing the Tribunal to refrain from unauthorized considerations and ruling against the assessee in favor of the Revenue. The Tribunal was tasked with thorough reevaluation based on the Court's directions. Case-Laws Income Tax Mon, 10 Sep 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22757