https://www.taxtmi.com/caselaws?id=270985 The ITAT partially allowed the Assessee's appeal by reducing the disallowance of sales promotion expenses but upheld the decisions on the valuation of closing stock and the disallowance of tanker and house-keeping expenses. The appeal was dismissed as no evidence was presented to support the claim of substandard quality of oil in the closing stock valuation. The disallowance of 50% of sales promotion expenses was reduced to Rs. 25,000 from Rs. 2,20,000 due to lack of complete details. The disallowance of tanker and house-keeping expenses was upheld at a reduced percentage of 20%. en-us Fri, 30 Oct 2015 00:00:00 +0530 Fri, 22 Jan 2016 09:55:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270985 The ITAT partially allowed the Assessee's appeal by reducing the disallowance of sales promotion expenses but upheld the decisions on the valuation of closing stock and the disallowance of tanker and house-keeping expenses. The appeal was dismissed as no evidence was presented to support the claim of substandard quality of oil in the closing stock valuation. The disallowance of 50% of sales promotion expenses was reduced to Rs. 25,000 from Rs. 2,20,000 due to lack of complete details. The disallowance of tanker and house-keeping expenses was upheld at a reduced percentage of 20%. Case-Laws Income Tax Fri, 30 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270985