https://www.taxtmi.com/caselaws?id=406899 The Tribunal partially allowed the assessee's appeal by deleting additions and disallowances confirmed by the CIT(A). The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decisions on income classification and allowances. Key outcomes included the deletion of additional income of Rs. 11,40,60,203/-, disallowance of prior period expenses of Rs. 23,57,810/-, and classification of interest income as "income from business and profession." The Tribunal also upheld the allowance of Rs. 23,15,00,000/- towards facilitation charges and the deletion of disallowance under section 40(a)(i) amounting to Rs. 13,05,038/-. en-us Wed, 21 Apr 2021 00:00:00 +0530 Mon, 26 Apr 2021 10:21:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406899 The Tribunal partially allowed the assessee's appeal by deleting additions and disallowances confirmed by the CIT(A). The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decisions on income classification and allowances. Key outcomes included the deletion of additional income of Rs. 11,40,60,203/-, disallowance of prior period expenses of Rs. 23,57,810/-, and classification of interest income as "income from business and profession." The Tribunal also upheld the allowance of Rs. 23,15,00,000/- towards facilitation charges and the deletion of disallowance under section 40(a)(i) amounting to Rs. 13,05,038/-. Case-Laws Income Tax Wed, 21 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406899