https://www.taxtmi.com/caselaws?id=268629 The ITAT partly allowed the appeal, rejecting the disallowance of General Expenses and upholding the disallowance of Deduction U/s 80IB. However, it disagreed with the capitalization of Insurance Expenses, valuation of Closing Stock, and rejection of Assessee's Books, ruling in favor of the assessee based on consistent methods and legal interpretations. The decision emphasized adherence to recognized valuation methods and the need for evidence in claiming deductions under the Income Tax Act. en-us Fri, 09 Oct 2015 00:00:00 +0530 Mon, 30 Nov 2015 12:53:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268629 The ITAT partly allowed the appeal, rejecting the disallowance of General Expenses and upholding the disallowance of Deduction U/s 80IB. However, it disagreed with the capitalization of Insurance Expenses, valuation of Closing Stock, and rejection of Assessee's Books, ruling in favor of the assessee based on consistent methods and legal interpretations. The decision emphasized adherence to recognized valuation methods and the need for evidence in claiming deductions under the Income Tax Act. Case-Laws Income Tax Fri, 09 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268629