https://www.taxtmi.com/caselaws?id=278055 The Tribunal ruled in favor of the assessee on various issues, including the accrual of interest on Non-Performing Assets (NPAs) based on prudence and substance over form principles. Disallowances were upheld for fuel and hire charges not related to the assessee's business, while additions for income from other sources due to non-payment of dividend distribution tax were rejected. The provision for standard assets was allowed as deductible, discrepancies in interest charges resulted in a net income reduction, and the disallowance of leave encashment provision was subject to verification. The disallowance of Annual Maintenance Charges for CCTV cameras was upheld, with expenses to be allowed proportionately over the contract period. en-us Mon, 16 Jul 2018 00:00:00 +0530 Wed, 14 Sep 2022 09:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278055 The Tribunal ruled in favor of the assessee on various issues, including the accrual of interest on Non-Performing Assets (NPAs) based on prudence and substance over form principles. Disallowances were upheld for fuel and hire charges not related to the assessee's business, while additions for income from other sources due to non-payment of dividend distribution tax were rejected. The provision for standard assets was allowed as deductible, discrepancies in interest charges resulted in a net income reduction, and the disallowance of leave encashment provision was subject to verification. The disallowance of Annual Maintenance Charges for CCTV cameras was upheld, with expenses to be allowed proportionately over the contract period. Case-Laws Income Tax Mon, 16 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278055