1996 (2) TMI 8 - SUPREME COURT

Assessee-company is entitled to a deduction for a sum in respect of the contribution made by it to the Maharashtra Housing Board towards the construction of tenements for its workers - professional charges paid by the assessee-company to its solicitors for effecting the amalgamation of Nawrosjee Wadia and Pressing Company with it, was of revenue nature and should be allowed as a deduction in the computation of its total income