https://www.taxtmi.com/caselaws?id=120944 The appeals were partly allowed for statistical purposes. The disallowances of interest on interest-free advances to subsidiary company, interest on investments in subsidiary company, conveyance expenses, general expenses, motor car, and telephone expenses were deleted. The disallowance of payments made to clubs was decided in favor of the assessee. The disallowance of tools and equipment expenses was deleted, and the disallowance of preliminary expenses and prior period expenses were set aside for re-examination. The disallowance of guest house expenses was to be re-adjudicated. The orders were based on legal precedents and previous Tribunal decisions. en-us Thu, 04 Oct 2007 00:00:00 +0530 Wed, 25 Jul 2012 15:26:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120944 The appeals were partly allowed for statistical purposes. The disallowances of interest on interest-free advances to subsidiary company, interest on investments in subsidiary company, conveyance expenses, general expenses, motor car, and telephone expenses were deleted. The disallowance of payments made to clubs was decided in favor of the assessee. The disallowance of tools and equipment expenses was deleted, and the disallowance of preliminary expenses and prior period expenses were set aside for re-examination. The disallowance of guest house expenses was to be re-adjudicated. The orders were based on legal precedents and previous Tribunal decisions. Case-Laws Income Tax Thu, 04 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120944