https://www.taxtmi.com/caselaws?id=219582 The Tribunal partly allowed the assessee's appeal, addressing disallowances of expenses from proprietary firms, addition under section 41(1) of sundry creditors, disallowance of expenses from another proprietary firm, and disallowance of loss on derivative transactions. The Tribunal ruled in favor of the assessee in the addition under section 41(1) of sundry creditors, deleting the amount added by the Assessing Officer. Additionally, the Tribunal directed the Assessing Officer to recompute the disallowances related to expenses from another proprietary firm, limiting it to 10% of the gross amount. Furthermore, the Tribunal allowed the ground raised by the assessee regarding the disallowance of loss on derivative transactions, resulting in a partial allowance of the appeal. en-us Wed, 18 Jul 2012 00:00:00 +0530 Mon, 01 Oct 2012 16:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219582 The Tribunal partly allowed the assessee's appeal, addressing disallowances of expenses from proprietary firms, addition under section 41(1) of sundry creditors, disallowance of expenses from another proprietary firm, and disallowance of loss on derivative transactions. The Tribunal ruled in favor of the assessee in the addition under section 41(1) of sundry creditors, deleting the amount added by the Assessing Officer. Additionally, the Tribunal directed the Assessing Officer to recompute the disallowances related to expenses from another proprietary firm, limiting it to 10% of the gross amount. Furthermore, the Tribunal allowed the ground raised by the assessee regarding the disallowance of loss on derivative transactions, resulting in a partial allowance of the appeal. Case-Laws Income Tax Wed, 18 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219582