https://www.taxtmi.com/caselaws?id=288455 The Tribunal upheld the CIT(A)'s decisions, dismissing the Revenue's appeal. The settlement compensation for closed units was allowed under Section 37(1) as it was not part of the VRS scheme. Additionally, the advances written off were considered trading losses connected to the business and deductible under Section 37. The Tribunal's decision was pronounced on 03/05/2017. en-us Wed, 03 May 2017 00:00:00 +0530 Mon, 08 Jun 2020 18:14:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288455 The Tribunal upheld the CIT(A)'s decisions, dismissing the Revenue's appeal. The settlement compensation for closed units was allowed under Section 37(1) as it was not part of the VRS scheme. Additionally, the advances written off were considered trading losses connected to the business and deductible under Section 37. The Tribunal's decision was pronounced on 03/05/2017. Case-Laws Income Tax Wed, 03 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288455