https://www.taxtmi.com/caselaws?id=399310 The Income Tax Appellate Tribunal (ITAT) upheld the decisions of the Commissioner of Income Tax (Appeals) in favor of the assessee, dismissing the Revenue's appeal on all grounds. The ITAT affirmed the deletion of disallowance of prior period expenditure and the treatment of bond issue expenditure as allowable expenses. Additionally, the ITAT upheld the reliance on earlier orders for relief on prior period and bond expenses, rejecting the Revenue's argument on the principle of res-judicata in Income Tax proceedings. The judgment was pronounced on 26.08.2020. en-us Wed, 26 Aug 2020 00:00:00 +0530 Thu, 08 Oct 2020 11:44:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399310 The Income Tax Appellate Tribunal (ITAT) upheld the decisions of the Commissioner of Income Tax (Appeals) in favor of the assessee, dismissing the Revenue's appeal on all grounds. The ITAT affirmed the deletion of disallowance of prior period expenditure and the treatment of bond issue expenditure as allowable expenses. Additionally, the ITAT upheld the reliance on earlier orders for relief on prior period and bond expenses, rejecting the Revenue's argument on the principle of res-judicata in Income Tax proceedings. The judgment was pronounced on 26.08.2020. Case-Laws Income Tax Wed, 26 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399310