https://www.taxtmi.com/caselaws?id=281589 The appeal filed by the assessee was allowed. The delay in filing the appeal was condoned. Expenses disallowed by the AO were allowed by the Tribunal, which found that the business was continued to meet existing obligations. The interest income was classified as business income instead of income from other sources. Compensation under VRS was allowed for the relevant assessment years. Carried forward losses and depreciation were to be allowed. Depreciation on goodwill was permitted by the Tribunal. The order was pronounced on 29th July 2011. en-us Fri, 29 Jul 2011 00:00:00 +0530 Wed, 26 Jun 2019 12:27:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281589 The appeal filed by the assessee was allowed. The delay in filing the appeal was condoned. Expenses disallowed by the AO were allowed by the Tribunal, which found that the business was continued to meet existing obligations. The interest income was classified as business income instead of income from other sources. Compensation under VRS was allowed for the relevant assessment years. Carried forward losses and depreciation were to be allowed. Depreciation on goodwill was permitted by the Tribunal. The order was pronounced on 29th July 2011. Case-Laws Income Tax Fri, 29 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281589