https://www.taxtmi.com/caselaws?id=70295 The Appellate Tribunal ITAT MADRAS-C allowed the assessee's cross-objections by condoning the delay in filing and admitting them. The cash incentive received was deemed taxable as revenue under the head 'Profits and gains of business or profession.' The claim under section 80HHC was rejected due to non-compliance with the reserve creation requirement. Guest house expenses were partially allowed as they were for staff transit purposes. The Tribunal's decisions were based on statutory provisions and precedents, resolving the tax assessment issues for the assessment year 1986-87. en-us Mon, 30 Mar 1998 00:00:00 +0530 Fri, 15 Apr 2011 12:44:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70295 The Appellate Tribunal ITAT MADRAS-C allowed the assessee's cross-objections by condoning the delay in filing and admitting them. The cash incentive received was deemed taxable as revenue under the head 'Profits and gains of business or profession.' The claim under section 80HHC was rejected due to non-compliance with the reserve creation requirement. Guest house expenses were partially allowed as they were for staff transit purposes. The Tribunal's decisions were based on statutory provisions and precedents, resolving the tax assessment issues for the assessment year 1986-87. Case-Laws Income Tax Mon, 30 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70295