https://www.taxtmi.com/caselaws?id=179399 The Tribunal upheld the disallowance of 50% of certain expenses but allowed others as legitimate business expenditures. The delay in filing Cross Objection was not condoned due to lack of proper explanation. The penalty under section 271(1)(c) was canceled as the claim was made in good faith. Disallowance of boat operating expenses and depreciation was confirmed, while disallowance of motor car expenses was deleted. Staff welfare expenses were partly upheld, and disallowance of labour charges was deleted. Repairs and maintenance expenses were allowed in full for the assessment year 2004-05. en-us Fri, 30 Apr 2010 00:00:00 +0530 Mon, 29 Feb 2016 12:39:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179399 The Tribunal upheld the disallowance of 50% of certain expenses but allowed others as legitimate business expenditures. The delay in filing Cross Objection was not condoned due to lack of proper explanation. The penalty under section 271(1)(c) was canceled as the claim was made in good faith. Disallowance of boat operating expenses and depreciation was confirmed, while disallowance of motor car expenses was deleted. Staff welfare expenses were partly upheld, and disallowance of labour charges was deleted. Repairs and maintenance expenses were allowed in full for the assessment year 2004-05. Case-Laws Income Tax Fri, 30 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179399