https://www.taxtmi.com/caselaws?id=116611 The Tribunal upheld the CIT(A)'s decision to allow 25% of entertainment expenses attributable to employees and deleted the disallowance of gift expenses. It ruled the entire research and development expenditure as deductible, rejecting deferred revenue expenditure. The disallowance of commission payments was upheld due to insufficient evidence. The Tribunal allowed the deduction of club membership fees for the Managing Director but disallowed the deduction of income tax liability. Consequently, the Revenue's appeal was dismissed, and the assessee's appeal was partly allowed, with deductions granted and denied based on established precedent and available evidence. en-us Wed, 30 Jun 2004 00:00:00 +0530 Thu, 13 Jun 2024 14:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=116611 The Tribunal upheld the CIT(A)'s decision to allow 25% of entertainment expenses attributable to employees and deleted the disallowance of gift expenses. It ruled the entire research and development expenditure as deductible, rejecting deferred revenue expenditure. The disallowance of commission payments was upheld due to insufficient evidence. The Tribunal allowed the deduction of club membership fees for the Managing Director but disallowed the deduction of income tax liability. Consequently, the Revenue's appeal was dismissed, and the assessee's appeal was partly allowed, with deductions granted and denied based on established precedent and available evidence. Case-Laws Income Tax Wed, 30 Jun 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=116611