https://www.taxtmi.com/caselaws?id=262401 The Tribunal dismissed the Revenue's appeal, affirming the decisions of the lower authorities. The addition of interest accrued on advances to M/s Karsan was deleted as it was considered a claim rather than a liability. Demurrage and wharfage charges were found compensatory, not penalties, and were also deleted. The provision for post-retirement benefits and wage arrears were allowed based on relevant case law and court decisions. en-us Wed, 20 May 2015 00:00:00 +0530 Thu, 23 Jul 2015 11:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262401 The Tribunal dismissed the Revenue's appeal, affirming the decisions of the lower authorities. The addition of interest accrued on advances to M/s Karsan was deleted as it was considered a claim rather than a liability. Demurrage and wharfage charges were found compensatory, not penalties, and were also deleted. The provision for post-retirement benefits and wage arrears were allowed based on relevant case law and court decisions. Case-Laws Income Tax Wed, 20 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262401