https://www.taxtmi.com/caselaws?id=187925 The Tribunal confirmed the CIT(A)'s order in disallowing Rs. 61,807 under Rule 6B, rejecting the revenue's appeal due to lack of evidence on business purpose. The Tribunal treated Rs. 14,00,000 received on termination of agency as taxable revenue, siding with the revenue. Rs. 1,14,117 disallowance under Rule 6D was deleted based on Bombay High Court decisions. Regarding Rs. 2,65,002 guest house expenses, the Tribunal remanded the issue for verification but partly allowed the revenue's appeal. Rs. 80,288 received from Digital Equipment Corporation was deemed a capital receipt, upholding CIT(A)'s decision against the revenue. The Tribunal's decision partly favored both the revenue and the assessee in this case. en-us Fri, 25 Nov 2005 00:00:00 +0530 Fri, 11 Nov 2016 15:10:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187925 The Tribunal confirmed the CIT(A)'s order in disallowing Rs. 61,807 under Rule 6B, rejecting the revenue's appeal due to lack of evidence on business purpose. The Tribunal treated Rs. 14,00,000 received on termination of agency as taxable revenue, siding with the revenue. Rs. 1,14,117 disallowance under Rule 6D was deleted based on Bombay High Court decisions. Regarding Rs. 2,65,002 guest house expenses, the Tribunal remanded the issue for verification but partly allowed the revenue's appeal. Rs. 80,288 received from Digital Equipment Corporation was deemed a capital receipt, upholding CIT(A)'s decision against the revenue. The Tribunal's decision partly favored both the revenue and the assessee in this case. Case-Laws Income Tax Fri, 25 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187925