https://www.taxtmi.com/caselaws?id=71846 The Tribunal partly allowed both appeals after considering legal precedents and factual circumstances for each issue involved. The Tribunal directed the Assessing Officer to ascertain the nature of unclaimed credit balances for fresh adjudication. The disallowance of commission was set aside for reconsideration with the agreement details. Deduction of depreciation was allowed based on a relevant Supreme Court decision. Expenses for increasing share capital were disallowed following a Supreme Court ruling. Entertainment expenses were partially disallowed, while conference and seminar expenses were allowed. Staff welfare expenses were permitted as not being entertainment expenses. Miscellaneous and gift expenses grounds were dismissed as not pressed by the parties. en-us Mon, 01 Jan 2001 00:00:00 +0530 Wed, 27 Apr 2011 13:49:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71846 The Tribunal partly allowed both appeals after considering legal precedents and factual circumstances for each issue involved. The Tribunal directed the Assessing Officer to ascertain the nature of unclaimed credit balances for fresh adjudication. The disallowance of commission was set aside for reconsideration with the agreement details. Deduction of depreciation was allowed based on a relevant Supreme Court decision. Expenses for increasing share capital were disallowed following a Supreme Court ruling. Entertainment expenses were partially disallowed, while conference and seminar expenses were allowed. Staff welfare expenses were permitted as not being entertainment expenses. Miscellaneous and gift expenses grounds were dismissed as not pressed by the parties. Case-Laws Income Tax Mon, 01 Jan 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71846