https://www.taxtmi.com/caselaws?id=39217 Pension payments met from the staff pension fund's own income were not deductible as the fund was treated as a separate trust, and that income was not the company's own expenditure. The amounts paid in 1959-60 and 1960-61 were therefore disallowed as business deductions. By contrast, excess pension payments borne directly by the company and charged to its profit and loss account were treated as commercially expedient expenditure laid out wholly and exclusively for business purposes. Those excess amounts for 1961-62 to 1964-65 were deductible, while the balance remained disallowed. en-us Fri, 02 Aug 1974 00:00:00 +0530 Tue, 13 Apr 2010 17:32:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39217 Pension payments met from the staff pension fund's own income were not deductible as the fund was treated as a separate trust, and that income was not the company's own expenditure. The amounts paid in 1959-60 and 1960-61 were therefore disallowed as business deductions. By contrast, excess pension payments borne directly by the company and charged to its profit and loss account were treated as commercially expedient expenditure laid out wholly and exclusively for business purposes. Those excess amounts for 1961-62 to 1964-65 were deductible, while the balance remained disallowed. Case-Laws Income Tax Fri, 02 Aug 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39217