2018 (10) TMI 1307

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.... For The Respondent : SRI P.K.R. MENON, SENIOR COUNSEL FOR GOI (TAXES) JUDGMENT Vinod Chandran,J. The Revenue is in appeal from an order of the Tribunal, which affirmed the order of the first appellate authority. 2. The questions of law raised are re-framed as follows: (i) Was the Tribunal right in law in upholding the deletion of disallowance of Retrenchment Compensation (R....

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....d retail business in Home Appliances, which were sold to a partnership firm in which also the assessee was a partner. The assessee claimed the aforesaid expenses in the return of income for the year 2001-02, the sale having been occasioned in the previous year, i.e. On 14.07.2000. The first appellate authority allowed the expenses, which was affirmed by the Tribunal. 4. What assumes significanc....

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....e Industrial Disputes Act, 1947 [for brevity "ID Act"] was specifically referred to and found that there was a right conferred on the employee for retrenchment compensation in the event of transfer of an undertaking. The proviso however, absolved the employer - the transferor or transferee - from the liability if the service of the workman has been continued uninterruptedly. 5. In the present c....

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....expenditure incurred for the business of the assessee. We do not think such a view can be taken especially since the assessee had a case that he expended the amounts for the purpose of sale, in which sale he had also declared long term capital gains coming to Rs. 75 lakhs. In such circumstances, the renovation expenses and expenses for repairs and maintenance have to be allowed as an expenditure u....