https://www.taxtmi.com/caselaws?id=296212 The Revenue's appeals against various disallowances and incorrect claims were mostly dismissed by the Tribunal. The disallowance of expenses on account of personal use and Diwali expenses were upheld due to inability to rule out personal use entirely. However, the disallowance of unverified expenses and incorrect claim of depreciation on a commercial vehicle were dismissed as justified. The claim of cost of acquisition of shares for Long Term Capital Gain was allowed based on evidence. The matter of Long Term Capital Gain addition was remanded for further verification, and the admission of additional evidence at the appellate stage was partially allowed for statistical purposes. en-us Tue, 27 Mar 2018 00:00:00 +0530 Sat, 10 Jul 2021 08:38:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296212 The Revenue's appeals against various disallowances and incorrect claims were mostly dismissed by the Tribunal. The disallowance of expenses on account of personal use and Diwali expenses were upheld due to inability to rule out personal use entirely. However, the disallowance of unverified expenses and incorrect claim of depreciation on a commercial vehicle were dismissed as justified. The claim of cost of acquisition of shares for Long Term Capital Gain was allowed based on evidence. The matter of Long Term Capital Gain addition was remanded for further verification, and the admission of additional evidence at the appellate stage was partially allowed for statistical purposes. Case-Laws Income Tax Tue, 27 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296212