https://www.taxtmi.com/caselaws?id=186599 The Tribunal ruled in favor of the assessee on various grounds, including the nature of compensation received as a capital receipt not liable to income tax due to contractual obligations. However, the Tribunal upheld disallowances on expenditure for gifts, sales commission, telephone expenses, and vehicle expenses due to lack of evidence. The Tribunal also addressed profit on sale of assets and capital gains, validity of reopening assessment, and exclusion of certain receipts from total turnover for deduction purposes under section 80HHC. The Tribunal partially allowed the appeal in favor of the assessee and provided directions for verification and reassessment where required. en-us Wed, 29 Feb 2012 00:00:00 +0530 Fri, 23 Sep 2016 14:56:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186599 The Tribunal ruled in favor of the assessee on various grounds, including the nature of compensation received as a capital receipt not liable to income tax due to contractual obligations. However, the Tribunal upheld disallowances on expenditure for gifts, sales commission, telephone expenses, and vehicle expenses due to lack of evidence. The Tribunal also addressed profit on sale of assets and capital gains, validity of reopening assessment, and exclusion of certain receipts from total turnover for deduction purposes under section 80HHC. The Tribunal partially allowed the appeal in favor of the assessee and provided directions for verification and reassessment where required. Case-Laws Income Tax Wed, 29 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186599