https://www.taxtmi.com/caselaws?id=63409 The Tribunal allowed the revenue's appeals, setting aside the AAC's orders and restoring the ITO's decisions for the assessment years in question. It clarified that the disallowance provisions under section 40(b) of the Income-tax Act apply to all firms, regardless of registration status. The Tribunal emphasized that the distinction between registered and unregistered firms is significant for tax liability determination, not for total income computation. en-us Fri, 17 Feb 1989 00:00:00 +0530 Sat, 29 Jan 2011 18:05:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63409 The Tribunal allowed the revenue's appeals, setting aside the AAC's orders and restoring the ITO's decisions for the assessment years in question. It clarified that the disallowance provisions under section 40(b) of the Income-tax Act apply to all firms, regardless of registration status. The Tribunal emphasized that the distinction between registered and unregistered firms is significant for tax liability determination, not for total income computation. Case-Laws Income Tax Fri, 17 Feb 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63409