https://www.taxtmi.com/caselaws?id=27766 Amounts claimed as expenditure were held deductible as revenue expenditure because the issue was covered by earlier precedent on identical facts, which had treated the outlay as revenue in nature. Bonus paid in cash to employees was also held outside the scope of the amended disallowance rule under section 40(c)(iii), because the statutory test of convertibility into money did not apply where payment was already made in cash. Both questions were answered in favour of the assessee, and the Revenue's objections failed on each issue. en-us Thu, 14 Jun 1984 00:00:00 +0530 Tue, 16 Feb 2010 10:07:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27766 Amounts claimed as expenditure were held deductible as revenue expenditure because the issue was covered by earlier precedent on identical facts, which had treated the outlay as revenue in nature. Bonus paid in cash to employees was also held outside the scope of the amended disallowance rule under section 40(c)(iii), because the statutory test of convertibility into money did not apply where payment was already made in cash. Both questions were answered in favour of the assessee, and the Revenue's objections failed on each issue. Case-Laws Income Tax Thu, 14 Jun 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27766