https://www.taxtmi.com/caselaws?id=24610 The court upheld the deductibility of Rs. 50,000 paid to Pioneer Construction Company for the assessment years 1967-68, 1968-69, and 1969-70, ruling in favor of the assessee. The payments were considered revenue in nature, made on grounds of commercial expediency without resulting in enduring benefits or capital asset acquisition. The Tribunal's decision to cancel the Commissioner of Income-tax's order under section 263 for the assessment year 1967-68 was also upheld based on the revenue nature of the payments. The Revenue was directed to pay costs of Rs. 1,000. en-us Thu, 11 Feb 1988 00:00:00 +0530 Thu, 21 Jan 2010 11:45:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24610 The court upheld the deductibility of Rs. 50,000 paid to Pioneer Construction Company for the assessment years 1967-68, 1968-69, and 1969-70, ruling in favor of the assessee. The payments were considered revenue in nature, made on grounds of commercial expediency without resulting in enduring benefits or capital asset acquisition. The Tribunal's decision to cancel the Commissioner of Income-tax's order under section 263 for the assessment year 1967-68 was also upheld based on the revenue nature of the payments. The Revenue was directed to pay costs of Rs. 1,000. Case-Laws Income Tax Thu, 11 Feb 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24610