https://www.taxtmi.com/caselaws?id=38876 The case involved a dispute regarding the deduction claim under Section 37 of the Income-tax Act, 1961 for a payment made to the widow of an ex-managing director. The Tribunal found that the payment was justified based on commercial expediency, considering the sacrifices made by the ex-managing director for the company. The Tribunal applied the tests laid down by the Supreme Court in Gordon Woodroffe's case and ruled in favor of the assessee, allowing the deduction under Section 37 of the Income-tax Act, 1961. The High Court upheld this decision, emphasizing the commercial prudence and expediency of the payment. en-us Tue, 23 Nov 1976 00:00:00 +0530 Sat, 10 Apr 2010 11:05:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38876 The case involved a dispute regarding the deduction claim under Section 37 of the Income-tax Act, 1961 for a payment made to the widow of an ex-managing director. The Tribunal found that the payment was justified based on commercial expediency, considering the sacrifices made by the ex-managing director for the company. The Tribunal applied the tests laid down by the Supreme Court in Gordon Woodroffe's case and ruled in favor of the assessee, allowing the deduction under Section 37 of the Income-tax Act, 1961. The High Court upheld this decision, emphasizing the commercial prudence and expediency of the payment. Case-Laws Income Tax Tue, 23 Nov 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38876