https://www.taxtmi.com/caselaws?id=234461 The Tribunal remanded the issue of under-pricing sales to a subsidiary back to the Assessing Officer (AO) for re-examination, reduced the disallowance of provisions for Executive Retirement Scheme (ERS) based on actual payments, upheld the disallowance of foreign travel expenses, confirmed some disallowances of entertainment expenses but allowed certain business expenses, upheld the reduction in deduction under section 80IA, rejected the ad-hoc disallowance of 2% of dividend income, allowed expenditure on advertising films, accepted the MODVAT credit claim, excluded excise duty and trade discount from total turnover for deduction under section 80HHC, did not rule on the validity of re-assessment, allowed payment to NPPA as a revenue expenditure, and directed computation of interest under section 220(2) in accordance with the law. en-us Fri, 18 Jan 2013 00:00:00 +0530 Wed, 30 Mar 2016 11:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234461 The Tribunal remanded the issue of under-pricing sales to a subsidiary back to the Assessing Officer (AO) for re-examination, reduced the disallowance of provisions for Executive Retirement Scheme (ERS) based on actual payments, upheld the disallowance of foreign travel expenses, confirmed some disallowances of entertainment expenses but allowed certain business expenses, upheld the reduction in deduction under section 80IA, rejected the ad-hoc disallowance of 2% of dividend income, allowed expenditure on advertising films, accepted the MODVAT credit claim, excluded excise duty and trade discount from total turnover for deduction under section 80HHC, did not rule on the validity of re-assessment, allowed payment to NPPA as a revenue expenditure, and directed computation of interest under section 220(2) in accordance with the law. Case-Laws Income Tax Fri, 18 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234461