https://www.taxtmi.com/caselaws?id=244909 The appeal was partly allowed regarding the addition of Rs.8.25 crores as income accrued and the denial of deduction for legitimate business expenses. The Tribunal directed a reevaluation of expenditure estimation for actual expenses incurred. The issue of part disallowance of various expenses was dismissed as the appellant did not press the ground during the hearing. The justification of interest levy under sections 234A, 234B, 234C, and 234D was upheld, while the initiation of penalty under section 271(1)(c) was not extensively discussed in the judgment. en-us Tue, 25 Feb 2014 00:00:00 +0530 Wed, 12 Mar 2014 07:14:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244909 The appeal was partly allowed regarding the addition of Rs.8.25 crores as income accrued and the denial of deduction for legitimate business expenses. The Tribunal directed a reevaluation of expenditure estimation for actual expenses incurred. The issue of part disallowance of various expenses was dismissed as the appellant did not press the ground during the hearing. The justification of interest levy under sections 234A, 234B, 234C, and 234D was upheld, while the initiation of penalty under section 271(1)(c) was not extensively discussed in the judgment. Case-Laws Income Tax Tue, 25 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244909