https://www.taxtmi.com/caselaws?id=288542 The Tribunal upheld the inclusion of scrap sales in the total turnover for deduction purposes under section 80HHC of the Income Tax Act, following a favorable ITAT decision and Supreme Court precedent. It upheld the deletion of expenses related to earlier years based on the assessee's consistent accounting policy. The disallowance of payment for bonus and leave with wages was upheld due to unverifiable records, while disallowances of foreign travel and general expenses were partially allowed, emphasizing the business nature of the expenses. The judgments highlighted consistency, factual distinctions, and arbitrariness in disallowances. en-us Fri, 27 Nov 2015 00:00:00 +0530 Tue, 09 Aug 2022 16:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288542 The Tribunal upheld the inclusion of scrap sales in the total turnover for deduction purposes under section 80HHC of the Income Tax Act, following a favorable ITAT decision and Supreme Court precedent. It upheld the deletion of expenses related to earlier years based on the assessee's consistent accounting policy. The disallowance of payment for bonus and leave with wages was upheld due to unverifiable records, while disallowances of foreign travel and general expenses were partially allowed, emphasizing the business nature of the expenses. The judgments highlighted consistency, factual distinctions, and arbitrariness in disallowances. Case-Laws Income Tax Fri, 27 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288542