https://www.taxtmi.com/caselaws?id=57873 The Appellate Tribunal ITAT Bombay ruled in favor of the assessee, allowing the deduction for payments made under the voluntary retirement scheme. The tribunal found no evidence of cessation of business, emphasizing the unity in various aspects of the business activities. It dismissed suspicions regarding fabricated bills and relied on financial records to support the continuity of business. Referring to legal precedents, the ITAT highlighted the commercial expediency and business nature of the expenditure, ultimately distinguishing and rejecting the revenue's arguments. The judgment provides a detailed analysis supporting the decision to allow the deduction for voluntary retirement scheme payments. en-us Mon, 15 May 1995 00:00:00 +0530 Wed, 15 Dec 2010 11:01:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57873 The Appellate Tribunal ITAT Bombay ruled in favor of the assessee, allowing the deduction for payments made under the voluntary retirement scheme. The tribunal found no evidence of cessation of business, emphasizing the unity in various aspects of the business activities. It dismissed suspicions regarding fabricated bills and relied on financial records to support the continuity of business. Referring to legal precedents, the ITAT highlighted the commercial expediency and business nature of the expenditure, ultimately distinguishing and rejecting the revenue's arguments. The judgment provides a detailed analysis supporting the decision to allow the deduction for voluntary retirement scheme payments. Case-Laws Income Tax Mon, 15 May 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57873