section 10(2)(xv)

Judgments on section 10(2)(xv)

• M/S. W. T. Suren & Co. Ltd. Vs. The Commissioner of Income Tax. Bombay — SC, 1998
  Payment of gratuity made by the assessee to Rallis India Ltd. was an allowable deduction as it was incurred wholly and exclusively for the purpose of business.
• Empire Jute Co. Ltd. vs Commissioner of Income Tax — SC,
  Expenditure incurred for operating or working the looms for longer hours with a view to producing more goods and earning more income is in the nature of revenue expenditure.
• Poona Electric Supply Co. Ltd. vs Commissioner of Income-Tax, Bombay — SC,
  The real profit of a businessman under the Income-tax Act cannot include amounts returned by way of rebate to consumers under statutory compulsion.