https://www.taxtmi.com/caselaws?id=252077 The Tribunal upheld the Revenue's disallowance of sums paid as a guarantor, pre-operative expenses, club expenses, interest on one-time settlement, and contributions to clubs and funds. It confirmed the disallowance of guest house expenses and excluded sales tax and excise duty from total turnover for deduction purposes. The Tribunal deleted the addition for foreign exchange loss and directed re-examination of issues related to inflation in purchases and Modvat attributable to closing stock. Specific directions were provided for fresh adjudication and quantification, emphasizing adherence to statutory provisions and evidence substantiation. en-us Mon, 12 May 2014 00:00:00 +0530 Tue, 17 Mar 2015 15:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252077 The Tribunal upheld the Revenue's disallowance of sums paid as a guarantor, pre-operative expenses, club expenses, interest on one-time settlement, and contributions to clubs and funds. It confirmed the disallowance of guest house expenses and excluded sales tax and excise duty from total turnover for deduction purposes. The Tribunal deleted the addition for foreign exchange loss and directed re-examination of issues related to inflation in purchases and Modvat attributable to closing stock. Specific directions were provided for fresh adjudication and quantification, emphasizing adherence to statutory provisions and evidence substantiation. Case-Laws Income Tax Mon, 12 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252077