1982 (1) TMI 9 - HC - Income Tax

Summary

The High Court of Madhya Pradesh held that the payment of income-tax arrears by the assessee for a purchased transport business was an allowable deduction under section 37(1) of the Income Tax Act, 1961. The court emphasized the commercial expediency of the payments for the business operation. The judgment favored the assessee, and no costs were awarded.