https://www.taxtmi.com/caselaws?id=20270 The Tribunal upheld the deletion of disallowance of Rs. 29,334 under section 40A(5) and the addition of Rs. 5,85,093 on account of price difference, ruling in favor of the assessee against the Revenue. The court referenced relevant decisions and distinguished between damages for breach of contract and speculative transactions, ultimately determining the payments were compensatory in nature and not speculative. The transactions were not classified as speculation business, leading to a favorable outcome for the assessee. en-us Tue, 14 Sep 1993 00:00:00 +0530 Thu, 12 Nov 2009 18:12:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20270 The Tribunal upheld the deletion of disallowance of Rs. 29,334 under section 40A(5) and the addition of Rs. 5,85,093 on account of price difference, ruling in favor of the assessee against the Revenue. The court referenced relevant decisions and distinguished between damages for breach of contract and speculative transactions, ultimately determining the payments were compensatory in nature and not speculative. The transactions were not classified as speculation business, leading to a favorable outcome for the assessee. Case-Laws Income Tax Tue, 14 Sep 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20270