https://www.taxtmi.com/caselaws?id=221975 The ITAT Cuttack ruled in favor of the appellant on all counts in a tax case. It directed the deletion of amounts added back related to the treatment of capital reserve, disallowance of commission payable, and addition of sundry debtors. The ITAT also found the penalty imposition unjustified and ruled the appellant was not liable for additional tax and penalty. The decision emphasized the significance of accurate assessment and proper justification in income tax matters. en-us Thu, 14 Feb 2013 00:00:00 +0530 Mon, 08 Apr 2013 18:21:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221975 The ITAT Cuttack ruled in favor of the appellant on all counts in a tax case. It directed the deletion of amounts added back related to the treatment of capital reserve, disallowance of commission payable, and addition of sundry debtors. The ITAT also found the penalty imposition unjustified and ruled the appellant was not liable for additional tax and penalty. The decision emphasized the significance of accurate assessment and proper justification in income tax matters. Case-Laws Income Tax Thu, 14 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221975