https://www.taxtmi.com/caselaws?id=261949 The Tribunal partially allowed the assessee's appeal for statistical purposes, dismissing the Revenue's appeal. The disallowance of a provision for loss on account of a firm purchase contract was upheld due to contingencies. Various expenses were disallowed for lack of evidence, with the Tribunal emphasizing the need for supporting details. The computation of deductions under sections 80HHC and 115JB was directed in accordance with relevant Supreme Court decisions. The addition of unutilized MODVAT credit was confirmed, aligning with consistent Tribunal views. The deletion of an addition on account of premium payable on premium notes was upheld based on previous case law. en-us Thu, 11 Jun 2015 00:00:00 +0530 Tue, 28 Jul 2015 06:54:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261949 The Tribunal partially allowed the assessee's appeal for statistical purposes, dismissing the Revenue's appeal. The disallowance of a provision for loss on account of a firm purchase contract was upheld due to contingencies. Various expenses were disallowed for lack of evidence, with the Tribunal emphasizing the need for supporting details. The computation of deductions under sections 80HHC and 115JB was directed in accordance with relevant Supreme Court decisions. The addition of unutilized MODVAT credit was confirmed, aligning with consistent Tribunal views. The deletion of an addition on account of premium payable on premium notes was upheld based on previous case law. Case-Laws Income Tax Thu, 11 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261949