No sec. 40A(g) disallowance on sum contributed to trusts created for health care of retired employees

INCOME TAX: Where assessee claimed deduction of certain amount contributed to a fund created for health care of its retired employees which was rejected by revenue authorities on ground that such fund not being one recognized under section 36(1)(iv) or (v), claim of expenditure was hit by provisions of section 40A(9), in view of fact that revenue authorities had not doubted bona fides in creation of trust or that expenditure was not incurred wholly and exclusively for employees, impugned order r

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