https://www.taxtmi.com/caselaws?id=32353 The Supreme Court upheld the High Court's decision, ruling that the sum of Rs. 2,09,114 was a deductible expense under section 10(2)(xv) of the Indian Income-tax Act. The court found that the expense was incurred for commercial expediency and would benefit the managing agent by strengthening the financial position of the managed company. The appeal was dismissed with costs, affirming that the amount was legitimately deductible and supported by evidence. en-us Wed, 17 Feb 1960 00:00:00 +0530 Sun, 03 May 2009 02:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32353 The Supreme Court upheld the High Court's decision, ruling that the sum of Rs. 2,09,114 was a deductible expense under section 10(2)(xv) of the Indian Income-tax Act. The court found that the expense was incurred for commercial expediency and would benefit the managing agent by strengthening the financial position of the managed company. The appeal was dismissed with costs, affirming that the amount was legitimately deductible and supported by evidence. Case-Laws Income Tax Wed, 17 Feb 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32353