https://www.taxtmi.com/caselaws?id=256539 The Tribunal allowed the Revenue's appeal, remanding both issues to the Assessing Officer for fresh examination. The cross-objection filed by the assessee was dismissed. The Tribunal held that the amounts transferred to reserve accounts were not diversions of income at source but appropriations after reaching the assessee. It directed further examination on the deductibility of expenses from the reserve accounts. en-us Wed, 04 Feb 2015 00:00:00 +0530 Fri, 29 Jan 2016 16:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256539 The Tribunal allowed the Revenue's appeal, remanding both issues to the Assessing Officer for fresh examination. The cross-objection filed by the assessee was dismissed. The Tribunal held that the amounts transferred to reserve accounts were not diversions of income at source but appropriations after reaching the assessee. It directed further examination on the deductibility of expenses from the reserve accounts. Case-Laws Income Tax Wed, 04 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256539