https://www.taxtmi.com/caselaws?id=296317 The Tribunal upheld the decisions of the CIT(A) on various issues, including disallowance of expenditure on loose tools, interest on interest-free loans, salary expenses for R&D activities, negative work-in-progress addition, and provision for erection and commissioning charges. The judgments highlighted the importance of consistency, accurate estimation of liabilities, and distinguishing between revenue and capital expenditures. Both the Revenue and the assessee's appeals were dismissed, affirming the CIT(A)'s rulings. en-us Fri, 03 Jun 2016 00:00:00 +0530 Fri, 23 Jul 2021 10:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296317 The Tribunal upheld the decisions of the CIT(A) on various issues, including disallowance of expenditure on loose tools, interest on interest-free loans, salary expenses for R&D activities, negative work-in-progress addition, and provision for erection and commissioning charges. The judgments highlighted the importance of consistency, accurate estimation of liabilities, and distinguishing between revenue and capital expenditures. Both the Revenue and the assessee's appeals were dismissed, affirming the CIT(A)'s rulings. Case-Laws Income Tax Fri, 03 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296317