Shanti Prime Publication Pvt. Ltd.
Sec. 37(1) of the Income-tax Act, 1961—Business expenditure - Ex gratia payment made by the employer to its employees is on account of commercial expediency is allowable. SLP of the revenue dismissed due to low tax effect. - CIT V/s NEW INDIA CO. OP. BANK LTD. - [2020] 272 TAXMAN 435 (SC)