https://www.taxtmi.com/caselaws?id=62181 The Tribunal partially allowed the assessee's appeal and dismissed the revenue's appeal in a case involving the disallowance of a claim for damages due to breach of export contracts. The Tribunal allowed the claim for specific contracts where delivery periods ended before the accounting year closed. It also directed the examination of the timing of payments to determine deductibility under speculative transaction criteria. Additionally, deductions for quality difference payments and commission and salary expenses were allowed, and the assessee was classified as an industrial company, as per previous decisions. en-us Wed, 08 Dec 1982 00:00:00 +0530 Tue, 18 Jan 2011 14:09:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62181 The Tribunal partially allowed the assessee's appeal and dismissed the revenue's appeal in a case involving the disallowance of a claim for damages due to breach of export contracts. The Tribunal allowed the claim for specific contracts where delivery periods ended before the accounting year closed. It also directed the examination of the timing of payments to determine deductibility under speculative transaction criteria. Additionally, deductions for quality difference payments and commission and salary expenses were allowed, and the assessee was classified as an industrial company, as per previous decisions. Case-Laws Income Tax Wed, 08 Dec 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62181