https://www.taxtmi.com/caselaws?id=25964 A transport undertaking carrying on both goods and passenger operations was treated as a single integrated business; cessation of the passenger segment did not amount to closure of the whole business when the overall transport activity continued. Expenditure incurred on gratuity, retrenchment compensation and notice pay in connection with industrial settlement and employee termination was treated as business expenditure, as such payments were made for carrying on and preserving the business. The note thus states that closure of one uneconomical segment does not end the entire business, and related employee termination costs may be deductible in computing business income. en-us Wed, 12 Feb 1986 00:00:00 +0530 Tue, 02 Feb 2010 10:19:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25964 A transport undertaking carrying on both goods and passenger operations was treated as a single integrated business; cessation of the passenger segment did not amount to closure of the whole business when the overall transport activity continued. Expenditure incurred on gratuity, retrenchment compensation and notice pay in connection with industrial settlement and employee termination was treated as business expenditure, as such payments were made for carrying on and preserving the business. The note thus states that closure of one uneconomical segment does not end the entire business, and related employee termination costs may be deductible in computing business income. Case-Laws Income Tax Wed, 12 Feb 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25964