Dismissing the appeal of the revenue the Court held that , granting monetary benefit to legal heir of a former employee on the basis of resolution passed by the cpmpany is allowable as business expenditure ,though the company did not have any pension scheme .( AY.2003-04)
CIT v. India Motor Parts & Accessories Ltd ( 2018) 255 Taxman 132 ( Mad)(HC)
S.37(1): Business expenditure -Granting monetary benefit to legal heir of a former employee on the basis of resolution passed by the cpmpany is allowable as business expenditure .