1997 (1) TMI 16 - HC - Income Tax

Summary

The High Court of Madras ruled that remuneration paid to certain individuals was not allowable as a business expenditure. The court also held that pension paid to Mrs. Valli Anantharamakrishnan was not deductible as a business expenditure. The court's decision was based on previous rulings in similar cases. Both questions of law were answered in the affirmative against the assessee.