https://www.taxtmi.com/caselaws?id=181585 The Tribunal partly allowed the appeals of the assessees and the Revenue, adjusting specific disallowances based on the Tribunal's findings. The disallowance of water expenses was reduced to 5% from the initial 50%. Firewood expenses disallowance was decreased to 5% for cash purchases. The claim for deduction under sec. 80IA read with sec. 80AC was not considered due to procedural reasons. The interest-free suppliers' credit was treated as a revenue receipt, subject to taxation, as it was deemed compensation for loss of earnings rather than a capital receipt. en-us Thu, 21 Feb 2013 00:00:00 +0530 Wed, 07 Jun 2017 12:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181585 The Tribunal partly allowed the appeals of the assessees and the Revenue, adjusting specific disallowances based on the Tribunal's findings. The disallowance of water expenses was reduced to 5% from the initial 50%. Firewood expenses disallowance was decreased to 5% for cash purchases. The claim for deduction under sec. 80IA read with sec. 80AC was not considered due to procedural reasons. The interest-free suppliers' credit was treated as a revenue receipt, subject to taxation, as it was deemed compensation for loss of earnings rather than a capital receipt. Case-Laws Income Tax Thu, 21 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181585