https://www.taxtmi.com/caselaws?id=213603 The Tribunal allowed the appeal regarding the disallowance of salary and establishment expenses, emphasizing that expenses for maintaining the establishment and assets were allowable. The penalty under Section 271(1)(c) was set aside as the disallowance was deleted in the quantum appeal, following the principle that penalty cannot stand if the assessment is set aside. However, the appeal against the disallowance of expenses under Section 154 was dismissed due to an unconvincing explanation for the delay in filing. The Tribunal highlighted the importance of demonstrating sufficient cause for delays and ensuring expenses are wholly and exclusively for business purposes. en-us Mon, 31 Oct 2011 00:00:00 +0530 Mon, 28 May 2012 15:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213603 The Tribunal allowed the appeal regarding the disallowance of salary and establishment expenses, emphasizing that expenses for maintaining the establishment and assets were allowable. The penalty under Section 271(1)(c) was set aside as the disallowance was deleted in the quantum appeal, following the principle that penalty cannot stand if the assessment is set aside. However, the appeal against the disallowance of expenses under Section 154 was dismissed due to an unconvincing explanation for the delay in filing. The Tribunal highlighted the importance of demonstrating sufficient cause for delays and ensuring expenses are wholly and exclusively for business purposes. Case-Laws Income Tax Mon, 31 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213603