https://www.taxtmi.com/caselaws?id=346073 The court upheld the deduction for the production incentive bonus and the deletion of the addition related to the undervaluation of closing stock. However, it ruled against the allowance of guest house expenses incurred after 28.02.1970, in line with the provisions of Section 37 of the Income Tax Act. en-us Thu, 27 Jul 2017 00:00:00 +0530 Thu, 03 Aug 2017 07:18:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346073 The court upheld the deduction for the production incentive bonus and the deletion of the addition related to the undervaluation of closing stock. However, it ruled against the allowance of guest house expenses incurred after 28.02.1970, in line with the provisions of Section 37 of the Income Tax Act. Case-Laws Income Tax Thu, 27 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346073