https://www.taxtmi.com/caselaws?id=122986 The Tribunal dismissed the Revenue's appeals and upheld the decisions of the first appellate authority in both assessment years. The Tribunal allowed the deduction for revaluation of unmatured oil exchange contracts, exemption for interest on tax-free bonds, payments to employees under the Voluntary Retirement Scheme as Revenue expenditure, and bad debts without setting off the closing provision. The Tribunal relied on legal precedents and previous decisions to support its rulings in favor of the assessee, dismissing the Revenue's contentions. en-us Fri, 28 Jan 2011 00:00:00 +0530 Mon, 21 Jan 2013 09:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122986 The Tribunal dismissed the Revenue's appeals and upheld the decisions of the first appellate authority in both assessment years. The Tribunal allowed the deduction for revaluation of unmatured oil exchange contracts, exemption for interest on tax-free bonds, payments to employees under the Voluntary Retirement Scheme as Revenue expenditure, and bad debts without setting off the closing provision. The Tribunal relied on legal precedents and previous decisions to support its rulings in favor of the assessee, dismissing the Revenue's contentions. Case-Laws Income Tax Fri, 28 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122986