1987 (4) TMI 121 - AT - Income Tax

Summary

The assessee-company paid Rs. 15,000 to an ex-employee as per a court decree, claiming it as a deduction. The ITAT Hyderabad held that the payment was capital expenditure, not deductible as it was part of the consideration for taking over a business. The appeal was dismissed. (Case Citation: 1987 (4) TMI 121 - ITAT HYDERABAD)