https://www.taxtmi.com/caselaws?id=63716 The tribunal partially allowed the appeal by deleting the addition of Rs. 72,799 to the trading account, finding the decision based on conjectures without concrete evidence. The issue of disallowance of deduction for purchase tax and interest amounting to Rs. 14,304 was remanded back to the ITO for reconsideration based on the appellant's argument and consistent past practice of claiming deductions on a payment basis. en-us Fri, 09 Oct 1992 00:00:00 +0530 Tue, 01 Feb 2011 14:49:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63716 The tribunal partially allowed the appeal by deleting the addition of Rs. 72,799 to the trading account, finding the decision based on conjectures without concrete evidence. The issue of disallowance of deduction for purchase tax and interest amounting to Rs. 14,304 was remanded back to the ITO for reconsideration based on the appellant's argument and consistent past practice of claiming deductions on a payment basis. Case-Laws Income Tax Fri, 09 Oct 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63716