https://www.taxtmi.com/caselaws?id=64341 The ITAT partly allowed the appeal, affirming the AO's classification of the Rs. 3,19,93,825/- expenditure as capital in nature. The Rs. 1,50,000/- payment to Navrachan Education Institute was remanded to the AO for further verification. Other business expenditures were deemed allowable, except a Rs. 10,000/- donation. The ITAT upheld the CIT (Appeals) regarding the treatment of provisions for doubtful debts and damaged stock as ascertained liabilities in the computation of book profit under section 115JA, rejecting the AO's characterization as unascertained liabilities. en-us Fri, 22 Sep 2006 00:00:00 +0530 Wed, 06 Mar 2024 12:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64341 The ITAT partly allowed the appeal, affirming the AO's classification of the Rs. 3,19,93,825/- expenditure as capital in nature. The Rs. 1,50,000/- payment to Navrachan Education Institute was remanded to the AO for further verification. Other business expenditures were deemed allowable, except a Rs. 10,000/- donation. The ITAT upheld the CIT (Appeals) regarding the treatment of provisions for doubtful debts and damaged stock as ascertained liabilities in the computation of book profit under section 115JA, rejecting the AO's characterization as unascertained liabilities. Case-Laws Income Tax Fri, 22 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64341