https://www.taxtmi.com/caselaws?id=354054 The appeals were allowed in part, with the tribunal directing the Assessing Officer to delete certain disallowances. The tribunal emphasized adherence to statutory provisions and judicial precedents in determining the tax liabilities of the assessee. Key issues included additions towards prior period expenditure, disallowance of interest on borrowed funds, bad debts written off, provision for leave encashment, set off of business loss of packaging division, and treatment of other income as composite income. The tribunal ruled in favor of the assessee on various grounds, highlighting the importance of accurate assessment and application of tax laws. en-us Fri, 05 Jan 2018 00:00:00 +0530 Wed, 17 Jan 2018 12:02:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354054 The appeals were allowed in part, with the tribunal directing the Assessing Officer to delete certain disallowances. The tribunal emphasized adherence to statutory provisions and judicial precedents in determining the tax liabilities of the assessee. Key issues included additions towards prior period expenditure, disallowance of interest on borrowed funds, bad debts written off, provision for leave encashment, set off of business loss of packaging division, and treatment of other income as composite income. The tribunal ruled in favor of the assessee on various grounds, highlighting the importance of accurate assessment and application of tax laws. Case-Laws Income Tax Fri, 05 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354054