1960 (8) TMI 89 - HC - Income Tax

Summary

The High Court of Punjab dismissed Income-tax Cases Nos. 4 and 5 of 1957 as no question of law arose. Legal and traveling expenses incurred by the assessee-company in defending a winding up petition were held deductible under section 10(2)(xv) of the Income-tax Act, following the decision in Morgan v. Tate & Lyle Ltd. No costs were awarded.