https://www.taxtmi.com/caselaws?id=64496 The Tribunal ruled in favor of the appellant regarding the computation of book profit under section 115J, holding that the withdrawal from the revaluation reserve could not form part of the book profit. Various issues related to the computation of profit and gains from business or profession were addressed by the Tribunal. The claim for deduction under section 37(2A) was denied, stating it is allowable only once unless each business unit is a separate assessee. Disallowance from traveling expenses was to be consolidated per employee per year. The Tribunal allowed the claims regarding disallowance under section 37(4) and investment allowance on exchange fluctuation but rejected the appeal on disallowances under sections 40A(3) and non-allowance of professional expenses. en-us Mon, 30 Aug 1993 00:00:00 +0530 Tue, 08 Feb 2011 11:58:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64496 The Tribunal ruled in favor of the appellant regarding the computation of book profit under section 115J, holding that the withdrawal from the revaluation reserve could not form part of the book profit. Various issues related to the computation of profit and gains from business or profession were addressed by the Tribunal. The claim for deduction under section 37(2A) was denied, stating it is allowable only once unless each business unit is a separate assessee. Disallowance from traveling expenses was to be consolidated per employee per year. The Tribunal allowed the claims regarding disallowance under section 37(4) and investment allowance on exchange fluctuation but rejected the appeal on disallowances under sections 40A(3) and non-allowance of professional expenses. Case-Laws Income Tax Mon, 30 Aug 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64496