https://www.taxtmi.com/caselaws?id=272336 The Tribunal upheld the disallowances of Rs. 22,04,344/- for interest liability to IFCI, Rs. 13,88,741/- for sales tax liability, and Rs. 52,257/- for entertainment expenditure. The Tribunal found that the liabilities did not accrue or were paid in the assessment year under appeal, denying their deduction in the computation of income. The appeal by the assessee was dismissed, affirming the disallowances based on the lack of evidence and adherence to accounting principles and legal provisions. en-us Wed, 13 Jan 2016 00:00:00 +0530 Thu, 17 Nov 2016 18:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272336 The Tribunal upheld the disallowances of Rs. 22,04,344/- for interest liability to IFCI, Rs. 13,88,741/- for sales tax liability, and Rs. 52,257/- for entertainment expenditure. The Tribunal found that the liabilities did not accrue or were paid in the assessment year under appeal, denying their deduction in the computation of income. The appeal by the assessee was dismissed, affirming the disallowances based on the lack of evidence and adherence to accounting principles and legal provisions. Case-Laws Income Tax Wed, 13 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272336