https://www.taxtmi.com/caselaws?id=196954 The Tribunal dismissed both appeals of the Revenue, upholding the CIT(A)'s decisions. The disallowance of expenses in earning dividend income was deleted as it was deemed arbitrary. Relief was granted to the assessee in computing capital gains and valuation of closing stock. Disallowances of interest paid, ESI & PF contributions, provision for warranty, and lease rentals were also overturned. The Tribunal found the transactions genuine and ruled in favor of the assessee. The judgments were pronounced on 20th February 2017. en-us Mon, 20 Feb 2017 00:00:00 +0530 Tue, 19 Dec 2017 23:18:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196954 The Tribunal dismissed both appeals of the Revenue, upholding the CIT(A)'s decisions. The disallowance of expenses in earning dividend income was deleted as it was deemed arbitrary. Relief was granted to the assessee in computing capital gains and valuation of closing stock. Disallowances of interest paid, ESI & PF contributions, provision for warranty, and lease rentals were also overturned. The Tribunal found the transactions genuine and ruled in favor of the assessee. The judgments were pronounced on 20th February 2017. Case-Laws Income Tax Mon, 20 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196954