https://www.taxtmi.com/caselaws?id=182877 The Tribunal upheld the deletion of disallowance of depreciation on BSE Membership Card based on a Supreme Court ruling. The matter of disallowance of bad debts was resolved in favor of the assessee, with the Tribunal referencing relevant case law. The disallowance of Club Membership charges was also overturned, considering past judicial decisions. Additionally, the addition on account of penalty for short margin was deemed allowable as business expenditure. The assessee's appeal was dismissed, and the Revenue's appeal was partly allowed for statistical purposes. en-us Wed, 06 Oct 2010 00:00:00 +0530 Sat, 21 May 2016 16:27:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182877 The Tribunal upheld the deletion of disallowance of depreciation on BSE Membership Card based on a Supreme Court ruling. The matter of disallowance of bad debts was resolved in favor of the assessee, with the Tribunal referencing relevant case law. The disallowance of Club Membership charges was also overturned, considering past judicial decisions. Additionally, the addition on account of penalty for short margin was deemed allowable as business expenditure. The assessee's appeal was dismissed, and the Revenue's appeal was partly allowed for statistical purposes. Case-Laws Income Tax Wed, 06 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182877