https://www.taxtmi.com/caselaws?id=339100 The Tribunal upheld the re-opening of assessment under Section 147 due to ineligibility to set off business loss and depreciation. The disallowance of the carry forward of loss of M/s.TTK Biomed Ltd. and gifts to medical practitioners was confirmed based on regulations and lack of proof of genuineness. Logo charges were upheld as revenue expenditure, and depot charges at 3% were deemed reasonable. Both assessee and revenue appeals were dismissed by the Tribunal in the order pronounced on 25th November 2016 at Chennai. en-us Fri, 25 Nov 2016 00:00:00 +0530 Sat, 18 Feb 2017 14:50:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339100 The Tribunal upheld the re-opening of assessment under Section 147 due to ineligibility to set off business loss and depreciation. The disallowance of the carry forward of loss of M/s.TTK Biomed Ltd. and gifts to medical practitioners was confirmed based on regulations and lack of proof of genuineness. Logo charges were upheld as revenue expenditure, and depot charges at 3% were deemed reasonable. Both assessee and revenue appeals were dismissed by the Tribunal in the order pronounced on 25th November 2016 at Chennai. Case-Laws Income Tax Fri, 25 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339100