https://www.taxtmi.com/caselaws?id=118733 The assessee's appeal resulted in a mixed outcome. The ITAT confirmed disallowances for traveling expenses and guesthouse depreciation, while deleting disallowances for warranty provisions and canteen expenses. The issue of debenture redemption premiums was remanded for reconsideration. The inclusion of sales tax reimbursement in total turnover was decided in favor of the assessee, and the gain from foreign exchange contract cancellations was deemed a capital receipt, requiring adjustments to the project's cost for depreciation purposes. The disallowance of special pension liability was reversed. Overall, the appeal was partly allowed, with certain issues remanded for further review. en-us Fri, 14 Oct 2005 00:00:00 +0530 Fri, 28 Jun 2024 19:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118733 The assessee's appeal resulted in a mixed outcome. The ITAT confirmed disallowances for traveling expenses and guesthouse depreciation, while deleting disallowances for warranty provisions and canteen expenses. The issue of debenture redemption premiums was remanded for reconsideration. The inclusion of sales tax reimbursement in total turnover was decided in favor of the assessee, and the gain from foreign exchange contract cancellations was deemed a capital receipt, requiring adjustments to the project's cost for depreciation purposes. The disallowance of special pension liability was reversed. Overall, the appeal was partly allowed, with certain issues remanded for further review. Case-Laws Income Tax Fri, 14 Oct 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118733