https://www.taxtmi.com/caselaws?id=406662 The Tribunal dismissed the Revenue's appeals for the assessment years 2008-2009 and 2010-2011, upholding the CIT(A)'s decisions to delete the disallowances of professional fees and premium on forward cover. The Tribunal found that the disallowances made by the Assessing Officer were not sustainable in law, as the expenses were deemed legitimate and necessary for the ordinary course of business, meeting the criteria set forth in the Income Tax Act. en-us Mon, 19 Apr 2021 00:00:00 +0530 Tue, 08 Jun 2021 14:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406662 The Tribunal dismissed the Revenue's appeals for the assessment years 2008-2009 and 2010-2011, upholding the CIT(A)'s decisions to delete the disallowances of professional fees and premium on forward cover. The Tribunal found that the disallowances made by the Assessing Officer were not sustainable in law, as the expenses were deemed legitimate and necessary for the ordinary course of business, meeting the criteria set forth in the Income Tax Act. Case-Laws Income Tax Mon, 19 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406662