https://www.taxtmi.com/caselaws?id=23900 The court ruled in favor of the assessee regarding the deduction of litigation expenses under sections 37 or 57 of the Income-tax Act, allowing the expenses as revenue expenditure to safeguard shares. However, the court sided with the Revenue on the issues of commission paid to the managing director, limiting the deduction to Rs. 72,000 per annum, and on the interest paid to ex-buying agents, disallowing the deduction under section 40A(8) once the buying agency ceased to exist. en-us Thu, 09 Mar 1989 00:00:00 +0530 Fri, 15 Jan 2010 11:33:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23900 The court ruled in favor of the assessee regarding the deduction of litigation expenses under sections 37 or 57 of the Income-tax Act, allowing the expenses as revenue expenditure to safeguard shares. However, the court sided with the Revenue on the issues of commission paid to the managing director, limiting the deduction to Rs. 72,000 per annum, and on the interest paid to ex-buying agents, disallowing the deduction under section 40A(8) once the buying agency ceased to exist. Case-Laws Income Tax Thu, 09 Mar 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23900