https://www.taxtmi.com/caselaws?id=219805 The Tribunal partially allowed the appeal, remanding certain issues back to the Assessing Officer for fresh consideration while allowing others based on established precedents. The disallowed expenses for website development, provision for stock obsolescence, computer software, foreign exchange loss, advance written off, royalty expenses, and PF/ESIC payments were either allowed as business expenditure or remanded for further evaluation. The Tribunal emphasized the need for proper assessment and consideration of consistent accounting practices followed by the assessee in determining the allowability of expenses. en-us Fri, 09 Nov 2012 00:00:00 +0530 Thu, 27 Dec 2012 13:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219805 The Tribunal partially allowed the appeal, remanding certain issues back to the Assessing Officer for fresh consideration while allowing others based on established precedents. The disallowed expenses for website development, provision for stock obsolescence, computer software, foreign exchange loss, advance written off, royalty expenses, and PF/ESIC payments were either allowed as business expenditure or remanded for further evaluation. The Tribunal emphasized the need for proper assessment and consideration of consistent accounting practices followed by the assessee in determining the allowability of expenses. Case-Laws Income Tax Fri, 09 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219805