https://www.taxtmi.com/caselaws?id=364870 The Tribunal allowed the assessee's appeals for AYs 2003-04, 2004-05, and 2005-06, directing the AO to allow the full claim of service charges disallowed under Section 37(1). For AY 2002-03, the Tribunal partly allowed the appeal by affirming the enhancement of income and disallowing the loss claimed on the valuation of shares, while also allowing the full claim of service charges. The Tribunal emphasized commercial expediency and the limitations on the AO's power to re-evaluate business expenditures. en-us Fri, 03 Aug 2018 00:00:00 +0530 Mon, 06 Aug 2018 08:01:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=364870 The Tribunal allowed the assessee's appeals for AYs 2003-04, 2004-05, and 2005-06, directing the AO to allow the full claim of service charges disallowed under Section 37(1). For AY 2002-03, the Tribunal partly allowed the appeal by affirming the enhancement of income and disallowing the loss claimed on the valuation of shares, while also allowing the full claim of service charges. The Tribunal emphasized commercial expediency and the limitations on the AO's power to re-evaluate business expenditures. Case-Laws Income Tax Fri, 03 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=364870