https://www.taxtmi.com/caselaws?id=66195 The tribunal partially allowed the appeal, upholding the assessee's valuation method for closing stock (paddy and broken rice) based on the average cost method. It allowed the deduction of Rs. 10,000 related to an employee's advances for traveling expenses, considering it a legitimate business expense due to the employee's long service and customary practices. However, the tribunal upheld the denial of depreciation on a diesel engine due to the lack of evidence regarding its purchase and installation. en-us Sun, 27 Sep 1987 00:00:00 +0530 Tue, 22 Feb 2011 10:55:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66195 The tribunal partially allowed the appeal, upholding the assessee's valuation method for closing stock (paddy and broken rice) based on the average cost method. It allowed the deduction of Rs. 10,000 related to an employee's advances for traveling expenses, considering it a legitimate business expense due to the employee's long service and customary practices. However, the tribunal upheld the denial of depreciation on a diesel engine due to the lack of evidence regarding its purchase and installation. Case-Laws Income Tax Sun, 27 Sep 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66195