https://www.taxtmi.com/caselaws?id=260052 The Tribunal upheld the CIT(A)'s decisions on various issues, including the deletion of additions disallowed by the Assessing Officer for losses due to extraordinary items, guarantee fees, cost of raising finance, loss of material, penalty expenses, and provision for employees' costs. The Tribunal also directed the Assessing Officer to recompute book profit under section 115JB by allowing depreciation and disagreed with the disallowance of the provision for employees' costs pending the Pay Commission decision. Overall, the Tribunal dismissed the Revenue's appeals for certain assessment years and allowed the Assessee's appeal for one assessment year. en-us Fri, 08 May 2015 00:00:00 +0530 Fri, 05 Aug 2022 18:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260052 The Tribunal upheld the CIT(A)'s decisions on various issues, including the deletion of additions disallowed by the Assessing Officer for losses due to extraordinary items, guarantee fees, cost of raising finance, loss of material, penalty expenses, and provision for employees' costs. The Tribunal also directed the Assessing Officer to recompute book profit under section 115JB by allowing depreciation and disagreed with the disallowance of the provision for employees' costs pending the Pay Commission decision. Overall, the Tribunal dismissed the Revenue's appeals for certain assessment years and allowed the Assessee's appeal for one assessment year. Case-Laws Income Tax Fri, 08 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260052