https://www.taxtmi.com/caselaws?id=119664 The Tribunal allowed the assessee's appeals, reversing the CIT(A)'s order for 1999-2000 and modifying the orders for 1997-98 and 1998-99. The deductions under section 33AC were permitted without reducing the reserves of amalgamating companies. The department's appeals were dismissed, and the salvage operations expenses and other income credited in the P/L account were allowed as deductions. en-us Mon, 22 Jan 2007 00:00:00 +0530 Thu, 12 Jul 2012 14:15:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119664 The Tribunal allowed the assessee's appeals, reversing the CIT(A)'s order for 1999-2000 and modifying the orders for 1997-98 and 1998-99. The deductions under section 33AC were permitted without reducing the reserves of amalgamating companies. The department's appeals were dismissed, and the salvage operations expenses and other income credited in the P/L account were allowed as deductions. Case-Laws Income Tax Mon, 22 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119664