https://www.taxtmi.com/caselaws?id=215779 The court dismissed the Tax Case Appeals challenging the disallowance of claimed amounts for purchase of old bottles and sales promotion expenses for the assessment year 2005-06. The court upheld the Tribunal's decision to determine costs based on the cost of new bottles for the purchase of old bottles, as section 40A(3) applies only to genuine transactions. Regarding sales promotion expenses, the court agreed that payments made to employees were not substantiated and fell under the Explanation to section 37(1). The judgment highlighted the importance of not interfering with concurrent findings of fact unless they are ex facie perverse. en-us Wed, 08 Aug 2012 00:00:00 +0530 Fri, 17 Aug 2012 11:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215779 The court dismissed the Tax Case Appeals challenging the disallowance of claimed amounts for purchase of old bottles and sales promotion expenses for the assessment year 2005-06. The court upheld the Tribunal's decision to determine costs based on the cost of new bottles for the purchase of old bottles, as section 40A(3) applies only to genuine transactions. Regarding sales promotion expenses, the court agreed that payments made to employees were not substantiated and fell under the Explanation to section 37(1). The judgment highlighted the importance of not interfering with concurrent findings of fact unless they are ex facie perverse. Case-Laws Income Tax Wed, 08 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215779