https://www.taxtmi.com/caselaws?id=249129 The Appellate Tribunal ITAT Mumbai addressed issues including condonation of delay in filing the appeal, disallowance of loss on damaged paper stock, disallowance of diminution in value of shares held as stock in trade, and reasonable disallowance of expenditure for tax-free income. The Tribunal upheld lower authorities' decisions on disallowances due to lack of evidence and failure to challenge previous classifications. Both Revenue's and assessee's appeals were dismissed based on evidence and legal principles. en-us Mon, 23 Jun 2014 00:00:00 +0530 Fri, 04 Jul 2014 20:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249129 The Appellate Tribunal ITAT Mumbai addressed issues including condonation of delay in filing the appeal, disallowance of loss on damaged paper stock, disallowance of diminution in value of shares held as stock in trade, and reasonable disallowance of expenditure for tax-free income. The Tribunal upheld lower authorities' decisions on disallowances due to lack of evidence and failure to challenge previous classifications. Both Revenue's and assessee's appeals were dismissed based on evidence and legal principles. Case-Laws Income Tax Mon, 23 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249129