https://www.taxtmi.com/caselaws?id=67017 The note discusses appellate treatment of income-tax adjustments where trading addition, motor car depreciation and interest, scooter depreciation and expenses, and shop expenses were found excessive on the facts. The tribunal accepted the assessee's uncontroverted explanation that the tyre trading margin was nominal and deleted the trading addition. It also restricted allowance on motor car depreciation and bank interest to one-third, allowed scooter-related depreciation and expenses in full for business use, and reduced the shop-expense disallowance to the extent considered reasonable. The overall effect was substantial but partial relief to the assessee, based on the evidence and the quantum of each disallowance. en-us Sat, 28 Nov 1981 00:00:00 +0530 Tue, 08 Mar 2011 17:37:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67017 The note discusses appellate treatment of income-tax adjustments where trading addition, motor car depreciation and interest, scooter depreciation and expenses, and shop expenses were found excessive on the facts. The tribunal accepted the assessee's uncontroverted explanation that the tyre trading margin was nominal and deleted the trading addition. It also restricted allowance on motor car depreciation and bank interest to one-third, allowed scooter-related depreciation and expenses in full for business use, and reduced the shop-expense disallowance to the extent considered reasonable. The overall effect was substantial but partial relief to the assessee, based on the evidence and the quantum of each disallowance. Case-Laws Income Tax Sat, 28 Nov 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67017