https://www.taxtmi.com/caselaws?id=103140 The Tribunal held that the surtax liability is not deductible in computing business income. Gratuity liability without provision is not allowable. Freight and insurance expenses are not covered for weighted deduction. Proportionate head office expenses claim was restricted. Legal expenses for amalgamation were held to be of capital nature. Revaluation of closing stock including subsidy in sale price was not proper. The questions raised by the assessee were answered in favor of the revenue except for the second question, which was answered in favor of the assessee. en-us Thu, 21 Dec 1989 00:00:00 +0530 Mon, 20 Feb 2012 18:43:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103140 The Tribunal held that the surtax liability is not deductible in computing business income. Gratuity liability without provision is not allowable. Freight and insurance expenses are not covered for weighted deduction. Proportionate head office expenses claim was restricted. Legal expenses for amalgamation were held to be of capital nature. Revaluation of closing stock including subsidy in sale price was not proper. The questions raised by the assessee were answered in favor of the revenue except for the second question, which was answered in favor of the assessee. Case-Laws Income Tax Thu, 21 Dec 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103140