https://www.taxtmi.com/caselaws?id=240464 The Tribunal upheld the disallowance of expenses claimed by the appellant for the assessment year 2003-04 due to the discontinuation of the business, resulting in an addition of Rs. 1,45,92,059 to the total income. Additionally, the interest on Custom Duty and technology transfer fees were also disallowed as deductions, leading to a disagreement between the assessee and the tax authorities. The Tribunal affirmed the lower authorities' decisions, dismissing the appellant's appeal based on the business closure and the nature of expenses claimed. en-us Fri, 20 Sep 2013 00:00:00 +0530 Thu, 05 Dec 2013 10:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240464 The Tribunal upheld the disallowance of expenses claimed by the appellant for the assessment year 2003-04 due to the discontinuation of the business, resulting in an addition of Rs. 1,45,92,059 to the total income. Additionally, the interest on Custom Duty and technology transfer fees were also disallowed as deductions, leading to a disagreement between the assessee and the tax authorities. The Tribunal affirmed the lower authorities' decisions, dismissing the appellant's appeal based on the business closure and the nature of expenses claimed. Case-Laws Income Tax Fri, 20 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240464