https://www.taxtmi.com/caselaws?id=23404 Expenditure actually incurred by a company to maintain its operations and meet statutory and administrative obligations is deductible if it is laid out wholly and exclusively for earning income and is reasonable on the facts. On these findings, the payment to the assessee's secretarial concern for registrar, secretarial, legal, accounting, banking, taxation and liaison services was not illusory and was properly treated as allowable. The deduction was therefore upheld in favour of the assessee, even though the company's income arose from lease rent rather than active business. en-us Tue, 18 Apr 1989 00:00:00 +0530 Sat, 19 Dec 2009 10:34:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23404 Expenditure actually incurred by a company to maintain its operations and meet statutory and administrative obligations is deductible if it is laid out wholly and exclusively for earning income and is reasonable on the facts. On these findings, the payment to the assessee's secretarial concern for registrar, secretarial, legal, accounting, banking, taxation and liaison services was not illusory and was properly treated as allowable. The deduction was therefore upheld in favour of the assessee, even though the company's income arose from lease rent rather than active business. Case-Laws Income Tax Tue, 18 Apr 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23404