Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Expenditure on Subsidiary for Commercial Expediency Allowable as Business Deduction: Bombay HC in Mahindra Case
Corporate Law & GovernanceIncome Tax
The Bombay High Court, in the Mahindra case, has ruled that an "expenditure on a subsidiary for commercial expediency" is "allowable as a business deduction." The court's decision provides a significant victory for the company. The ruling clarifies that an expenditure that is made for the benefit of a company's business can be claimed as a deduction.
