https://www.taxtmi.com/caselaws?id=180457 The tribunal partially allowed the appeal regarding disallowance of expenditure claimed in businesses, reducing the adhoc disallowances to specific amounts based on lack of proper vouching. The dispute over gross profit rate and net profit rate calculations favored the appellant, with the tribunal ordering deletion of the entire addition sustained by the CIT(A) due to unjustified basis. Regarding the treatment of interest income on FDRs, the tribunal considered it as business income following the rule of consistency, leading to the partial allowance of the appeal. en-us Thu, 07 Mar 2013 00:00:00 +0530 Fri, 26 May 2017 09:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180457 The tribunal partially allowed the appeal regarding disallowance of expenditure claimed in businesses, reducing the adhoc disallowances to specific amounts based on lack of proper vouching. The dispute over gross profit rate and net profit rate calculations favored the appellant, with the tribunal ordering deletion of the entire addition sustained by the CIT(A) due to unjustified basis. Regarding the treatment of interest income on FDRs, the tribunal considered it as business income following the rule of consistency, leading to the partial allowance of the appeal. Case-Laws Income Tax Thu, 07 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180457