https://www.taxtmi.com/caselaws?id=62612 The Tribunal dismissed the revenue's appeal and upheld the allowance of expenditure in connection with the awarded sum. The assessee's cross-objection was also dismissed. The decision was based on the interpretation of section 176(3A) and previous court rulings, emphasizing that for tax assessment purposes, expenditure should be excluded from received amounts after business discontinuance. The Tribunal's decision ensured a fair outcome based on legal provisions and precedents. en-us Tue, 14 Sep 1993 00:00:00 +0530 Thu, 20 Jan 2011 17:27:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62612 The Tribunal dismissed the revenue's appeal and upheld the allowance of expenditure in connection with the awarded sum. The assessee's cross-objection was also dismissed. The decision was based on the interpretation of section 176(3A) and previous court rulings, emphasizing that for tax assessment purposes, expenditure should be excluded from received amounts after business discontinuance. The Tribunal's decision ensured a fair outcome based on legal provisions and precedents. Case-Laws Income Tax Tue, 14 Sep 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62612