https://www.taxtmi.com/caselaws?id=123016 The Tribunal allowed the assessee's appeal regarding the disallowance of severance costs as revenue expenses, market research study expenses, and carry forward of business losses and unabsorbed depreciation. The Tribunal remanded the issue of disallowance of carry forward losses for re-adjudication. The penalty imposed under section 271(1)(c) was deleted as both disallowances were overturned in the quantum appeal. The appeals were allowed for statistical purposes, and the revenue's appeal was dismissed. en-us Fri, 30 Jul 2010 00:00:00 +0530 Tue, 28 Aug 2012 14:49:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=123016 The Tribunal allowed the assessee's appeal regarding the disallowance of severance costs as revenue expenses, market research study expenses, and carry forward of business losses and unabsorbed depreciation. The Tribunal remanded the issue of disallowance of carry forward losses for re-adjudication. The penalty imposed under section 271(1)(c) was deleted as both disallowances were overturned in the quantum appeal. The appeals were allowed for statistical purposes, and the revenue's appeal was dismissed. Case-Laws Income Tax Fri, 30 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=123016