https://www.taxtmi.com/caselaws?id=38720 Salary-like allowances paid by an insurer to employees and described as entertainment allowances were held deductible because they formed part of remuneration and were not expenditure directly incurred by the company on entertainment; the employees had no obligation to spend them on entertainment and their tax treatment did not control the employer's deduction. Excess management expenditure of a general insurer was also held not disallowable under income-tax computation rules merely because it exceeded the ceiling in the Insurance Act, since only the adjustments specifically permitted for insurance business could be made and any statutory breach lay under the Insurance Act itself. en-us Wed, 01 Dec 1976 00:00:00 +0530 Thu, 08 Apr 2010 15:27:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38720 Salary-like allowances paid by an insurer to employees and described as entertainment allowances were held deductible because they formed part of remuneration and were not expenditure directly incurred by the company on entertainment; the employees had no obligation to spend them on entertainment and their tax treatment did not control the employer's deduction. Excess management expenditure of a general insurer was also held not disallowable under income-tax computation rules merely because it exceeded the ceiling in the Insurance Act, since only the adjustments specifically permitted for insurance business could be made and any statutory breach lay under the Insurance Act itself. Case-Laws Income Tax Wed, 01 Dec 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38720