https://www.taxtmi.com/caselaws?id=239717 The note discusses that additions accepted during assessment can still be challenged in appeal if shown to have been made under mistake or misconception. It also explains that disallowance under section 40A(2)(b) requires material showing excessive or unreasonable payment, and that livestock expenses should be reasonably apportioned where related income has been taxed. The text further states that profits from breeder and foundation seeds grown through agricultural operations retain the character of agricultural income, while interest disallowance on advances to a sister concern depends on the factual sustainability of the claim. It concludes that estimated agricultural expenses cannot be sustained without rejecting books or proving suppression. en-us Fri, 22 Mar 2013 00:00:00 +0530 Mon, 18 Nov 2013 17:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239717 The note discusses that additions accepted during assessment can still be challenged in appeal if shown to have been made under mistake or misconception. It also explains that disallowance under section 40A(2)(b) requires material showing excessive or unreasonable payment, and that livestock expenses should be reasonably apportioned where related income has been taxed. The text further states that profits from breeder and foundation seeds grown through agricultural operations retain the character of agricultural income, while interest disallowance on advances to a sister concern depends on the factual sustainability of the claim. It concludes that estimated agricultural expenses cannot be sustained without rejecting books or proving suppression. Case-Laws Income Tax Fri, 22 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239717