https://www.taxtmi.com/caselaws?id=185029 Sales tax collected was held to be a revenue receipt and must be included in trading account, sustaining disallowance. Capital subsidy for new plant was not to reduce asset cost for depreciation, allowing higher depreciation. Travelling claims computed per trip were disallowed but travel by research scientists was remitted for AO examination and possible allowance. Guest house outgoes were disallowed as non-deductible business accommodation expenses. Food and beverage costs for employee events were allowed, while those for business visitors were disallowed. Contributions and donations claims were remitted for AO verification of eligibility and certificates. Time barred liabilities written back were taxed as income. Allocation of head office expenses was limited when computing regional deductions, and interest income was treated as income from other sources, excluding it from export profit deductions. Provision for retirement pension was sent back for fresh scrutiny of the pension scheme. en-us Wed, 08 Feb 2012 00:00:00 +0530 Tue, 10 Feb 2026 10:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185029 Sales tax collected was held to be a revenue receipt and must be included in trading account, sustaining disallowance. Capital subsidy for new plant was not to reduce asset cost for depreciation, allowing higher depreciation. Travelling claims computed per trip were disallowed but travel by research scientists was remitted for AO examination and possible allowance. Guest house outgoes were disallowed as non-deductible business accommodation expenses. Food and beverage costs for employee events were allowed, while those for business visitors were disallowed. Contributions and donations claims were remitted for AO verification of eligibility and certificates. Time barred liabilities written back were taxed as income. Allocation of head office expenses was limited when computing regional deductions, and interest income was treated as income from other sources, excluding it from export profit deductions. Provision for retirement pension was sent back for fresh scrutiny of the pension scheme. Case-Laws Income Tax Wed, 08 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185029