https://www.taxtmi.com/caselaws?id=258784 The assessee's appeal was partly allowed, with the Revenue's appeal being dismissed. The Tribunal remanded certain issues back to the Assessing Officer for fresh examination and verification, while directing the deletion of other ad-hoc disallowances. The Tribunal upheld the disallowance of Rs. 98,816 for club services but overturned the ad-hoc disallowance of Rs. 3,17,240 to cover revenue leakage. The valuation issue under Section 50C was remanded for reevaluation based on the date of the Memorandum of Understanding. en-us Wed, 18 Mar 2015 00:00:00 +0530 Mon, 20 Apr 2015 21:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258784 The assessee's appeal was partly allowed, with the Revenue's appeal being dismissed. The Tribunal remanded certain issues back to the Assessing Officer for fresh examination and verification, while directing the deletion of other ad-hoc disallowances. The Tribunal upheld the disallowance of Rs. 98,816 for club services but overturned the ad-hoc disallowance of Rs. 3,17,240 to cover revenue leakage. The valuation issue under Section 50C was remanded for reevaluation based on the date of the Memorandum of Understanding. Case-Laws Income Tax Wed, 18 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258784