https://www.taxtmi.com/caselaws?id=65175 The Tribunal partly allowed the assessee's appeals and dismissed the Revenue's appeals in a case involving various tax disallowances and deductions under the IT Act, 1961. Key outcomes include the vacating of disallowance of gifts as business expenses, consideration of losses of a previous entity in reassessment, allowance of interest on genuine deposits, partial approval of entertainment expenses, and directions to allow deductions without offsetting. The Tribunal emphasized adherence to legal precedents and principles in its decisions. en-us Mon, 27 Jun 2005 00:00:00 +0530 Wed, 01 Aug 2012 00:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65175 The Tribunal partly allowed the assessee's appeals and dismissed the Revenue's appeals in a case involving various tax disallowances and deductions under the IT Act, 1961. Key outcomes include the vacating of disallowance of gifts as business expenses, consideration of losses of a previous entity in reassessment, allowance of interest on genuine deposits, partial approval of entertainment expenses, and directions to allow deductions without offsetting. The Tribunal emphasized adherence to legal precedents and principles in its decisions. Case-Laws Income Tax Mon, 27 Jun 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65175