https://www.taxtmi.com/caselaws?id=342625 The Tribunal partly allowed the assessee's appeal and dismissed the Revenue's appeal. The judgment emphasized the importance of substantiating claims with evidence and the necessity of expenses for business operations. Key disallowances included leave encashment, legal and professional fees, and miscellaneous expenses, with the Tribunal overturning some decisions made by the AO and CIT(A) based on the business necessity of the expenses. The Tribunal also upheld decisions regarding interest on borrowed funds and advances written off as business loss. en-us Fri, 05 May 2017 00:00:00 +0530 Tue, 09 May 2017 07:40:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342625 The Tribunal partly allowed the assessee's appeal and dismissed the Revenue's appeal. The judgment emphasized the importance of substantiating claims with evidence and the necessity of expenses for business operations. Key disallowances included leave encashment, legal and professional fees, and miscellaneous expenses, with the Tribunal overturning some decisions made by the AO and CIT(A) based on the business necessity of the expenses. The Tribunal also upheld decisions regarding interest on borrowed funds and advances written off as business loss. Case-Laws Income Tax Fri, 05 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342625