https://www.taxtmi.com/caselaws?id=60222 Expenditure on salary, wages and rent incurred by a company in voluntary liquidation may be deductible if it is necessary to maintain the establishment during liquidation and is properly referable to income computation. Liquidation priority does not, by itself, make every such item automatically allowable. On the facts noted, the disputed liquidation expenses were treated as allowable in full, granting partial relief to the assessee. en-us Wed, 14 Oct 1987 00:00:00 +0530 Tue, 04 Jan 2011 13:02:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60222 Expenditure on salary, wages and rent incurred by a company in voluntary liquidation may be deductible if it is necessary to maintain the establishment during liquidation and is properly referable to income computation. Liquidation priority does not, by itself, make every such item automatically allowable. On the facts noted, the disputed liquidation expenses were treated as allowable in full, granting partial relief to the assessee. Case-Laws Income Tax Wed, 14 Oct 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60222