https://www.taxtmi.com/caselaws?id=62846 Interest on fixed deposits was treated as accruing on maturity, not day to day, and disputed sales tax liability was allowed as a business deduction despite pending writ proceedings. Excise duty refund previously allowed as expenditure was held taxable in the year of receipt under section 41(1), while central excise duty on packing material was deductible for the accounting year to the extent it related to that period, with the balance remitted for verification. Legal and consultation expenses outside the scope of section 80VV were excluded from disallowance. Unclaimed debenture interest was treated as having ceased to be payable and was taxable under section 41(1). Car expense attributable to the managing director was restricted to one-fourth as personal use. en-us Thu, 27 Apr 1989 00:00:00 +0530 Sat, 22 Jan 2011 11:55:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62846 Interest on fixed deposits was treated as accruing on maturity, not day to day, and disputed sales tax liability was allowed as a business deduction despite pending writ proceedings. Excise duty refund previously allowed as expenditure was held taxable in the year of receipt under section 41(1), while central excise duty on packing material was deductible for the accounting year to the extent it related to that period, with the balance remitted for verification. Legal and consultation expenses outside the scope of section 80VV were excluded from disallowance. Unclaimed debenture interest was treated as having ceased to be payable and was taxable under section 41(1). Car expense attributable to the managing director was restricted to one-fourth as personal use. Case-Laws Income Tax Thu, 27 Apr 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62846