https://www.taxtmi.com/caselaws?id=151709 The Tribunal dismissed the assessee's appeal concerning the deductibility of payments to retired partners, ruling that these payments were an application of income and thus not deductible. Additionally, the Tribunal dismissed the Revenue's appeal, upholding the deletion of the ad hoc disallowance of petty cash expenses, as no specific defect was identified in the claimed expenses. The decision was pronounced on December 19, 2008. en-us Fri, 19 Dec 2008 00:00:00 +0530 Sat, 04 Nov 2023 12:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151709 The Tribunal dismissed the assessee's appeal concerning the deductibility of payments to retired partners, ruling that these payments were an application of income and thus not deductible. Additionally, the Tribunal dismissed the Revenue's appeal, upholding the deletion of the ad hoc disallowance of petty cash expenses, as no specific defect was identified in the claimed expenses. The decision was pronounced on December 19, 2008. Case-Laws Income Tax Fri, 19 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151709