https://www.taxtmi.com/caselaws?id=215541 The Tribunal dismissed the revenue's appeals for assessment years 2004-05 and 2005-06, upholding the deletion of additions under Section 40A(2)(b) of the IT Act. The Tribunal found that the interest-free deposits made by the assessee to related parties were commercially expedient and not hit by the provisions of Section 40A(2)(b). Additionally, the Tribunal directed the Assessing Officer to re-evaluate the adjustment of excise duty on closing stock for assessment year 2005-06 in accordance with the law, setting aside the issue for further consideration. en-us Fri, 25 May 2012 00:00:00 +0530 Fri, 27 Jul 2012 14:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215541 The Tribunal dismissed the revenue's appeals for assessment years 2004-05 and 2005-06, upholding the deletion of additions under Section 40A(2)(b) of the IT Act. The Tribunal found that the interest-free deposits made by the assessee to related parties were commercially expedient and not hit by the provisions of Section 40A(2)(b). Additionally, the Tribunal directed the Assessing Officer to re-evaluate the adjustment of excise duty on closing stock for assessment year 2005-06 in accordance with the law, setting aside the issue for further consideration. Case-Laws Income Tax Fri, 25 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215541