https://www.taxtmi.com/caselaws?id=177009 The appeal for the Assessment Year 2000-01 was dismissed, while for the Assessment Year 2004-05, it was partly allowed. The Tribunal upheld the reduction of deduction under sec. 80HHC for DEPB receipts due to turnover exceeding Rs. 10 crores. Challenges to the validity of proceedings u/s 147 and deduction under sec. 80HHC on interest income were not pressed and rejected. The disallowance of gratuity expenses was referred back for further examination. The Tribunal deleted the addition for cessation of liability of creditors and reduced disallowance of foreign travelling expenses to Rs. 1,00,000. en-us Tue, 25 Oct 2011 00:00:00 +0530 Fri, 01 Jan 2016 14:30:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177009 The appeal for the Assessment Year 2000-01 was dismissed, while for the Assessment Year 2004-05, it was partly allowed. The Tribunal upheld the reduction of deduction under sec. 80HHC for DEPB receipts due to turnover exceeding Rs. 10 crores. Challenges to the validity of proceedings u/s 147 and deduction under sec. 80HHC on interest income were not pressed and rejected. The disallowance of gratuity expenses was referred back for further examination. The Tribunal deleted the addition for cessation of liability of creditors and reduced disallowance of foreign travelling expenses to Rs. 1,00,000. Case-Laws Income Tax Tue, 25 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177009