https://www.taxtmi.com/caselaws?id=278914 The Tribunal upheld the reopening of the assessment under sections 143(3) and 147, citing new information available to the Assessing Officer. It restricted the deduction under section 36(1)(viia) to the provision made in the books. The Tribunal also deleted additions for bad debts and depreciation on investments, ruled unreconciled entries in inter-branch transactions as non-taxable, and held that section 115JB does not apply. Interest under section 244A was not allowed, and deductions for staff welfare fund contributions were dismissed. The Tribunal allowed depreciation on UPS at 60% and disallowed deductions for wage arrears. Relief under section 90 for foreign tax paid was limited, while losses on revaluation of investments and derivative contracts were allowed. Provision for leave salary was permitted. en-us Fri, 26 Sep 2014 00:00:00 +0530 Mon, 25 Feb 2019 23:53:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278914 The Tribunal upheld the reopening of the assessment under sections 143(3) and 147, citing new information available to the Assessing Officer. It restricted the deduction under section 36(1)(viia) to the provision made in the books. The Tribunal also deleted additions for bad debts and depreciation on investments, ruled unreconciled entries in inter-branch transactions as non-taxable, and held that section 115JB does not apply. Interest under section 244A was not allowed, and deductions for staff welfare fund contributions were dismissed. The Tribunal allowed depreciation on UPS at 60% and disallowed deductions for wage arrears. Relief under section 90 for foreign tax paid was limited, while losses on revaluation of investments and derivative contracts were allowed. Provision for leave salary was permitted. Case-Laws Income Tax Fri, 26 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278914