https://www.taxtmi.com/caselaws?id=18275 The Tribunal disallowed certain expenses but allowed others, including the deduction of penalty paid to the Punjab State Electricity Board and the treatment of extinguishment of sales-tax liability as non-taxable income. The court upheld these decisions, favoring the assessee on various issues related to expenditure classification and eligibility for weighted deductions under the Income-tax Act for the assessment years 1975-76, 1976-77, and 1977-78. en-us Fri, 30 Aug 1996 00:00:00 +0530 Tue, 29 Sep 2009 17:56:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18275 The Tribunal disallowed certain expenses but allowed others, including the deduction of penalty paid to the Punjab State Electricity Board and the treatment of extinguishment of sales-tax liability as non-taxable income. The court upheld these decisions, favoring the assessee on various issues related to expenditure classification and eligibility for weighted deductions under the Income-tax Act for the assessment years 1975-76, 1976-77, and 1977-78. Case-Laws Income Tax Fri, 30 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18275