https://www.taxtmi.com/caselaws?id=122545 The Tribunal allowed the deduction of salary expenses disallowed by the Assessing Officer, finding them to be incurred for the business purpose as per the MoU and Board Resolution. However, the disallowance of interest expenses and club expenses was upheld as the Tribunal found that they were not directly related to the assessee's business activities. The appeal for the assessment year 1996-97 was partly allowed, while the appeal for the assessment year 1997-98 was fully allowed. en-us Thu, 31 Dec 2009 00:00:00 +0530 Tue, 14 Aug 2012 14:46:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122545 The Tribunal allowed the deduction of salary expenses disallowed by the Assessing Officer, finding them to be incurred for the business purpose as per the MoU and Board Resolution. However, the disallowance of interest expenses and club expenses was upheld as the Tribunal found that they were not directly related to the assessee's business activities. The appeal for the assessment year 1996-97 was partly allowed, while the appeal for the assessment year 1997-98 was fully allowed. Case-Laws Income Tax Thu, 31 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122545