https://www.taxtmi.com/caselaws?id=65018 The Tribunal partly allowed the appeal, directing re-examination of various disallowed expenses such as entertainment, temple, rest house, farm land operation in Bhutan, sur-tax deduction, gratuity to directors, capital loss on shares, and interest charges. Specific directions were given to the Income-tax Officer (ITO) to reassess and confirm disallowances in accordance with the Tribunal's analysis and prior decisions. The disagreement between the Accountant Member and Judicial Member regarding guest house expenses under section 37(4) was addressed, with the Third Member resolving the difference by emphasizing the non-allowance of expenses under other sections in light of section 37(4). en-us Fri, 05 May 1989 00:00:00 +0530 Fri, 11 Feb 2011 17:02:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65018 The Tribunal partly allowed the appeal, directing re-examination of various disallowed expenses such as entertainment, temple, rest house, farm land operation in Bhutan, sur-tax deduction, gratuity to directors, capital loss on shares, and interest charges. Specific directions were given to the Income-tax Officer (ITO) to reassess and confirm disallowances in accordance with the Tribunal's analysis and prior decisions. The disagreement between the Accountant Member and Judicial Member regarding guest house expenses under section 37(4) was addressed, with the Third Member resolving the difference by emphasizing the non-allowance of expenses under other sections in light of section 37(4). Case-Laws Income Tax Fri, 05 May 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65018