https://www.taxtmi.com/caselaws?id=155064 The ITAT Chandigarh allowed the appeal of the assessee concerning the denial of deduction for raw material consumption and other direct expenses for the assessment year 2007-08. The ITAT found that the increase in raw material consumption was justified due to the closing stock of finished products. Additionally, it determined that the disallowance of other direct expenses was unwarranted as they were related to packing material for the balance stock available. The additions made by the Assessing Officer were deleted, overturning the decisions of the Commissioner of Income-tax (Appeals). en-us Fri, 26 Aug 2011 00:00:00 +0530 Sat, 31 Aug 2013 11:57:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=155064 The ITAT Chandigarh allowed the appeal of the assessee concerning the denial of deduction for raw material consumption and other direct expenses for the assessment year 2007-08. The ITAT found that the increase in raw material consumption was justified due to the closing stock of finished products. Additionally, it determined that the disallowance of other direct expenses was unwarranted as they were related to packing material for the balance stock available. The additions made by the Assessing Officer were deleted, overturning the decisions of the Commissioner of Income-tax (Appeals). Case-Laws Income Tax Fri, 26 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=155064