https://www.taxtmi.com/caselaws?id=218306 The Tribunal upheld the CIT(A)'s decision on various disallowances challenged by the Revenue. Guarantee commission was allowed as it compensated directors for bank loan guarantees. Expenditure on foreign travel was deemed for business purposes based on past cases. After sales operation, maintenance, and warranty obligations were accepted as legitimate business liabilities. However, interest on inter-corporate deposits was sent back for further examination due to recovery uncertainties. The Revenue's appeal was partly allowed for statistical purposes regarding the interest disallowance. en-us Fri, 12 Oct 2012 00:00:00 +0530 Fri, 09 Nov 2012 22:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218306 The Tribunal upheld the CIT(A)'s decision on various disallowances challenged by the Revenue. Guarantee commission was allowed as it compensated directors for bank loan guarantees. Expenditure on foreign travel was deemed for business purposes based on past cases. After sales operation, maintenance, and warranty obligations were accepted as legitimate business liabilities. However, interest on inter-corporate deposits was sent back for further examination due to recovery uncertainties. The Revenue's appeal was partly allowed for statistical purposes regarding the interest disallowance. Case-Laws Income Tax Fri, 12 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218306