https://www.taxtmi.com/caselaws?id=346891 The appeal of the Revenue was partly allowed for statistical purposes, and the cross objections filed by the assessee were disposed of accordingly. The Tribunal upheld the CIT(A)'s decisions on several grounds but remanded some issues back to the AO for further verification and examination. Key disallowances were deleted due to lack of justification and evidence provided by the AO, with the Tribunal emphasizing the insignificance of certain expenses relative to turnover. The Tribunal directed the AO to re-examine specific matters, including payments to shipping agents and interest capitalized, for accurate determination. en-us Fri, 18 Aug 2017 00:00:00 +0530 Fri, 25 Aug 2017 07:00:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346891 The appeal of the Revenue was partly allowed for statistical purposes, and the cross objections filed by the assessee were disposed of accordingly. The Tribunal upheld the CIT(A)'s decisions on several grounds but remanded some issues back to the AO for further verification and examination. Key disallowances were deleted due to lack of justification and evidence provided by the AO, with the Tribunal emphasizing the insignificance of certain expenses relative to turnover. The Tribunal directed the AO to re-examine specific matters, including payments to shipping agents and interest capitalized, for accurate determination. Case-Laws Income Tax Fri, 18 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346891