https://www.taxtmi.com/caselaws?id=25881 The court ruled against the assessee, holding that the pension paid to the former managing director was not deductible as a business expenditure under section 37 of the Income-tax Act. The court emphasized the lack of evidence supporting commercial expediency or facilitation of business operations through the payment, ultimately favoring the Revenue. The other issues raised were deemed unnecessary to address in light of the court's decision on the deductibility of the pension payment. The parties were directed to bear their respective costs, and the judgment was to be forwarded to the Income-tax Appellate Tribunal, Cochin Bench. en-us Wed, 25 Mar 1987 00:00:00 +0530 Mon, 01 Feb 2010 14:22:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25881 The court ruled against the assessee, holding that the pension paid to the former managing director was not deductible as a business expenditure under section 37 of the Income-tax Act. The court emphasized the lack of evidence supporting commercial expediency or facilitation of business operations through the payment, ultimately favoring the Revenue. The other issues raised were deemed unnecessary to address in light of the court's decision on the deductibility of the pension payment. The parties were directed to bear their respective costs, and the judgment was to be forwarded to the Income-tax Appellate Tribunal, Cochin Bench. Case-Laws Income Tax Wed, 25 Mar 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25881