https://www.taxtmi.com/caselaws?id=35791 The dispute concerned whether retrenchment compensation paid to employees could be treated as revenue expenditure and therefore as an allowable deduction in computing the firm's income for the assessment year 1972-73. The High Court held that the proposed reference raised a question of law, namely the proper tax character of the expenditure, and that the Tribunal should have referred it. The application under section 256(2) was allowed, and the Tribunal was directed to state the case and refer the question of law. en-us Thu, 16 Oct 1980 00:00:00 +0530 Tue, 16 Mar 2010 16:31:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35791 The dispute concerned whether retrenchment compensation paid to employees could be treated as revenue expenditure and therefore as an allowable deduction in computing the firm's income for the assessment year 1972-73. The High Court held that the proposed reference raised a question of law, namely the proper tax character of the expenditure, and that the Tribunal should have referred it. The application under section 256(2) was allowed, and the Tribunal was directed to state the case and refer the question of law. Case-Laws Income Tax Thu, 16 Oct 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35791