https://www.taxtmi.com/caselaws?id=67175 The Tribunal ruled in favor of the assessee on most grounds, allowing the disallowance of royalty payment as a revenue expenditure, restricting disallowance of interest paid, accepting provision for bad debts and gratuity, and allowing deduction of actual payment of funded interest. The Tribunal also upheld deletion of service charges, addition under sections 41(1) and 37(4)/(5), disallowance of exchange loss, club fee, and stores and tools consumed. The Department's appeals were mostly dismissed, except for the restoration of addition for guest house expenses. en-us Fri, 31 May 2002 00:00:00 +0530 Thu, 21 Jun 2012 15:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67175 The Tribunal ruled in favor of the assessee on most grounds, allowing the disallowance of royalty payment as a revenue expenditure, restricting disallowance of interest paid, accepting provision for bad debts and gratuity, and allowing deduction of actual payment of funded interest. The Tribunal also upheld deletion of service charges, addition under sections 41(1) and 37(4)/(5), disallowance of exchange loss, club fee, and stores and tools consumed. The Department's appeals were mostly dismissed, except for the restoration of addition for guest house expenses. Case-Laws Income Tax Fri, 31 May 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67175