https://www.taxtmi.com/caselaws?id=64819 The ITAT upheld several disallowances of expenses citing lack of evidence and adherence to the mercantile system of accounting. Disallowances included freight charges, salary and wages, raw material expenses, credit notes, bank interest, health club fees, foreign travel expenses, and interest on borrowed capital. Some disallowances were allowed for bad debts and petty staff amounts. The AO was directed to re-examine certain disallowances for salary and wages, generator depreciation, and debenture issue expenses. The deletion of cash credit addition was also referred back for further review. en-us Thu, 28 Aug 2003 00:00:00 +0530 Thu, 10 Feb 2011 13:24:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64819 The ITAT upheld several disallowances of expenses citing lack of evidence and adherence to the mercantile system of accounting. Disallowances included freight charges, salary and wages, raw material expenses, credit notes, bank interest, health club fees, foreign travel expenses, and interest on borrowed capital. Some disallowances were allowed for bad debts and petty staff amounts. The AO was directed to re-examine certain disallowances for salary and wages, generator depreciation, and debenture issue expenses. The deletion of cash credit addition was also referred back for further review. Case-Laws Income Tax Thu, 28 Aug 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64819