https://www.taxtmi.com/caselaws?id=383386 The Tribunal partly allowed both appeals, directing the AO to verify and reconsider several issues. The decisions were based on precedents and statutory provisions. Specific directions included verifying the reversal of a provision for expenses, excluding income from scrap sales not offered for taxation in the previous year, disallowing a deduction for non-compete and non-solicitation payment due to lack of supporting agreement, allowing deductions for VRS liability and fees paid to Registrar of Companies, and upholding decisions on warranty provisions, miscellaneous expenses disallowance, dealer commission, amalgamation expenditure, and transfer pricing adjustment. Interest under section 234D was allowed following a retrospective amendment. en-us Thu, 18 Jul 2019 00:00:00 +0530 Mon, 22 Jul 2019 12:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383386 The Tribunal partly allowed both appeals, directing the AO to verify and reconsider several issues. The decisions were based on precedents and statutory provisions. Specific directions included verifying the reversal of a provision for expenses, excluding income from scrap sales not offered for taxation in the previous year, disallowing a deduction for non-compete and non-solicitation payment due to lack of supporting agreement, allowing deductions for VRS liability and fees paid to Registrar of Companies, and upholding decisions on warranty provisions, miscellaneous expenses disallowance, dealer commission, amalgamation expenditure, and transfer pricing adjustment. Interest under section 234D was allowed following a retrospective amendment. Case-Laws Income Tax Thu, 18 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383386