https://www.taxtmi.com/caselaws?id=67539 The Tribunal deemed the notice under section 148 legal, upholding the assessment order challenged by the assessee. The disallowance of Rs. 11,70,397 for write-off of unrecoverable yarn supplied to weavers was upheld due to lack of reasonable belief in irrecoverability. Disallowances of Rs. 20,000 out of miscellaneous expenditure and Rs. 50,000 out of exhibition expenses were reduced. The disallowance of the ex gratia amount of Rs. 80,000 was deleted. The disallowance of Rs. 5,000 on account of guarantee commission was dismissed. The appeal was partly allowed, adjusting various disallowances. en-us Wed, 30 Apr 1997 00:00:00 +0530 Fri, 11 Mar 2011 11:53:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67539 The Tribunal deemed the notice under section 148 legal, upholding the assessment order challenged by the assessee. The disallowance of Rs. 11,70,397 for write-off of unrecoverable yarn supplied to weavers was upheld due to lack of reasonable belief in irrecoverability. Disallowances of Rs. 20,000 out of miscellaneous expenditure and Rs. 50,000 out of exhibition expenses were reduced. The disallowance of the ex gratia amount of Rs. 80,000 was deleted. The disallowance of Rs. 5,000 on account of guarantee commission was dismissed. The appeal was partly allowed, adjusting various disallowances. Case-Laws Income Tax Wed, 30 Apr 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67539