https://www.taxtmi.com/caselaws?id=183016 The Tribunal allowed the appeal, overturning the ad-hoc disallowance of business promotion and general expenses. It emphasized the need for precise quantification and corroborative evidence for such additions, citing Supreme Court decisions. Additionally, it affirmed the separate legal entity status of Fine Installments and Handsome Investment P. Ltd., based on prior rulings, highlighting the importance of arms' length transactions and legal formalities. As a result, the issues raised in Grounds 2 and 3 were considered resolved, leading to the appeal's success. en-us Fri, 27 Jun 2008 00:00:00 +0530 Thu, 26 May 2016 11:00:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183016 The Tribunal allowed the appeal, overturning the ad-hoc disallowance of business promotion and general expenses. It emphasized the need for precise quantification and corroborative evidence for such additions, citing Supreme Court decisions. Additionally, it affirmed the separate legal entity status of Fine Installments and Handsome Investment P. Ltd., based on prior rulings, highlighting the importance of arms' length transactions and legal formalities. As a result, the issues raised in Grounds 2 and 3 were considered resolved, leading to the appeal's success. Case-Laws Income Tax Fri, 27 Jun 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183016