https://www.taxtmi.com/caselaws?id=346303 The Tribunal upheld the disallowance of the provision for valuation of closing stock due to lack of consistency in the method applied. It agreed with lower authorities on disallowing the donation not considered essential for business purposes. Repair expenses were remanded for further verification with supporting documents. Additional grounds on leasehold property expenditures were allowed for fresh consideration. The disallowance of interest to specified persons was overturned, considering the reasonable interest rate. The provision for bonus redemption expenses was allowed based on scientific assessment. en-us Wed, 08 Feb 2017 00:00:00 +0530 Wed, 09 Aug 2017 10:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346303 The Tribunal upheld the disallowance of the provision for valuation of closing stock due to lack of consistency in the method applied. It agreed with lower authorities on disallowing the donation not considered essential for business purposes. Repair expenses were remanded for further verification with supporting documents. Additional grounds on leasehold property expenditures were allowed for fresh consideration. The disallowance of interest to specified persons was overturned, considering the reasonable interest rate. The provision for bonus redemption expenses was allowed based on scientific assessment. Case-Laws Income Tax Wed, 08 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346303