https://www.taxtmi.com/caselaws?id=283737 The Tribunal partially allowed the assessee's appeal regarding the disallowance of certain deductions under different sections, including the provision for leave encashment and exclusion of certain amounts in computing book profit under Section 115JB. The Tribunal disagreed with the AO and CIT(A) on various issues, such as the treatment of subsidies and profits on the sale of fixed assets. The Tribunal directed the AO to allow credit for tax paid by adjusting the refund for the previous assessment year and to compute interest under Section 234C based on the returned income. The Tribunal also upheld the deletion of the addition of sales tax subsidy under the normal computation of income. en-us Fri, 27 Apr 2018 00:00:00 +0530 Thu, 10 Oct 2019 11:38:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283737 The Tribunal partially allowed the assessee's appeal regarding the disallowance of certain deductions under different sections, including the provision for leave encashment and exclusion of certain amounts in computing book profit under Section 115JB. The Tribunal disagreed with the AO and CIT(A) on various issues, such as the treatment of subsidies and profits on the sale of fixed assets. The Tribunal directed the AO to allow credit for tax paid by adjusting the refund for the previous assessment year and to compute interest under Section 234C based on the returned income. The Tribunal also upheld the deletion of the addition of sales tax subsidy under the normal computation of income. Case-Laws Income Tax Fri, 27 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283737