https://www.taxtmi.com/caselaws?id=381215 The appeal filed by the assessee was partly allowed. The Tribunal set aside the disallowance under Section 40A(3) for further verification, allowed the claim under Section 36(1)(vii) for certain debtors but disallowed for others, upheld the 20% disallowance under Section 32 for car usage, allowed the expenses under Section 37 for foreign tours, accepted the contention under Section 41(1) regarding liability repayment, found the disallowance under Section 40A(2)(b) unjustified, and deleted the addition on account of undisclosed closing stock. The Tribunal stressed the importance of evidence-based decisions. en-us Mon, 03 Jun 2019 00:00:00 +0530 Wed, 05 Jun 2019 11:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381215 The appeal filed by the assessee was partly allowed. The Tribunal set aside the disallowance under Section 40A(3) for further verification, allowed the claim under Section 36(1)(vii) for certain debtors but disallowed for others, upheld the 20% disallowance under Section 32 for car usage, allowed the expenses under Section 37 for foreign tours, accepted the contention under Section 41(1) regarding liability repayment, found the disallowance under Section 40A(2)(b) unjustified, and deleted the addition on account of undisclosed closing stock. The Tribunal stressed the importance of evidence-based decisions. Case-Laws Income Tax Mon, 03 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381215