https://www.taxtmi.com/caselaws?id=21482 The High Court quashed the modified order of the Tribunal, holding that the initial decision not to allow expenses related to arbitration proceedings as a separate deduction was not a rectifiable mistake under section 254(2) of the Income-tax Act, 1961. The Court emphasized the importance of distinguishing between business expenses and arbitration-related expenses in determining the correct tax liability of the assessee. en-us Wed, 27 Nov 1991 00:00:00 +0530 Tue, 24 Nov 2009 17:00:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21482 The High Court quashed the modified order of the Tribunal, holding that the initial decision not to allow expenses related to arbitration proceedings as a separate deduction was not a rectifiable mistake under section 254(2) of the Income-tax Act, 1961. The Court emphasized the importance of distinguishing between business expenses and arbitration-related expenses in determining the correct tax liability of the assessee. Case-Laws Income Tax Wed, 27 Nov 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21482