https://www.taxtmi.com/caselaws?id=28018 The court held that the litigation expenses incurred by the assessee were not allowable deductions as revenue expenditure under the Income-tax Act, 1961. The court also disallowed the premium amount paid for insurance covering risks in traveling for one of the directors, stating it was not incurred wholly and exclusively for the business purposes of the company. The judgment was unfavorable to the assessee, who was directed to pay the costs of the reference. en-us Thu, 15 Jul 1982 00:00:00 +0530 Wed, 17 Feb 2010 13:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28018 The court held that the litigation expenses incurred by the assessee were not allowable deductions as revenue expenditure under the Income-tax Act, 1961. The court also disallowed the premium amount paid for insurance covering risks in traveling for one of the directors, stating it was not incurred wholly and exclusively for the business purposes of the company. The judgment was unfavorable to the assessee, who was directed to pay the costs of the reference. Case-Laws Income Tax Thu, 15 Jul 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28018