https://www.taxtmi.com/caselaws?id=64736 The Tribunal partly allowed the assessee's appeal by deleting the addition of Rs. 4,37,080 related to inflated stock quantities for obtaining higher loans. The disallowance of salary paid to Shri Sumer Mal Jain was reversed due to his significant role in the firm. However, disallowances of repairs treated as capital expenditure, 1/4th of car expenses, Rs. 1,500 of general charges, and Rs. 3,000 of traveling expenses were upheld. en-us Fri, 28 Oct 1988 00:00:00 +0530 Wed, 09 Feb 2011 15:50:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64736 The Tribunal partly allowed the assessee's appeal by deleting the addition of Rs. 4,37,080 related to inflated stock quantities for obtaining higher loans. The disallowance of salary paid to Shri Sumer Mal Jain was reversed due to his significant role in the firm. However, disallowances of repairs treated as capital expenditure, 1/4th of car expenses, Rs. 1,500 of general charges, and Rs. 3,000 of traveling expenses were upheld. Case-Laws Income Tax Fri, 28 Oct 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64736