https://www.taxtmi.com/caselaws?id=372446 The Tribunal dismissed both appeals filed by the revenue, upholding the CIT(A)'s decisions. The rejection of books of accounts under Section 145(3) of the Income Tax Act was deemed unjustified, and the disallowance of contract expenses was appropriately restricted. The amount withheld by GAIL was not taxable as income due to being subjudice and referred to arbitration. The set-off of the AOP member's loss was allowed as their income and expenditure were determined separately. The Tribunal's decision was pronounced on 20/12/2018. en-us Thu, 20 Dec 2018 00:00:00 +0530 Sat, 22 Dec 2018 08:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372446 The Tribunal dismissed both appeals filed by the revenue, upholding the CIT(A)'s decisions. The rejection of books of accounts under Section 145(3) of the Income Tax Act was deemed unjustified, and the disallowance of contract expenses was appropriately restricted. The amount withheld by GAIL was not taxable as income due to being subjudice and referred to arbitration. The set-off of the AOP member's loss was allowed as their income and expenditure were determined separately. The Tribunal's decision was pronounced on 20/12/2018. Case-Laws Income Tax Thu, 20 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372446