https://www.taxtmi.com/caselaws?id=261767 The Tribunal partly allowed the department's appeal, dismissed the assessee's Cross Objection, and remanded one issue to the AO for further review. The Tribunal upheld the CIT(A)'s decision in the first issue regarding penal expenses, finding them to be revenue in nature. It also affirmed the deletion of the provision for House Tax based on precedents. However, the Tribunal remanded the matter concerning the amount deducted from the sales account back to the AO for reevaluation due to inadequately addressed aspects. en-us Thu, 16 Jul 2015 00:00:00 +0530 Wed, 22 Jul 2015 16:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261767 The Tribunal partly allowed the department's appeal, dismissed the assessee's Cross Objection, and remanded one issue to the AO for further review. The Tribunal upheld the CIT(A)'s decision in the first issue regarding penal expenses, finding them to be revenue in nature. It also affirmed the deletion of the provision for House Tax based on precedents. However, the Tribunal remanded the matter concerning the amount deducted from the sales account back to the AO for reevaluation due to inadequately addressed aspects. Case-Laws Income Tax Thu, 16 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261767