https://www.taxtmi.com/caselaws?id=296927 The Tribunal upheld the addition of scrap items' value to the closing stock, treated the first insurance premium on a car as capital expenditure, disallowed the provision for head office expenses reversal, and mark to market loss on outstanding option contracts. It also disallowed various deductions under different sections for failure to deduct tax at source, leading to legal questions on the correctness of these decisions and tax deduction obligations. The eligibility of assets used for testing for deduction under section 35(1)(iv) was also disputed, raising questions on interpretation and eligibility criteria for deductions. en-us Thu, 19 Nov 2015 00:00:00 +0530 Wed, 11 Aug 2021 21:23:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296927 The Tribunal upheld the addition of scrap items' value to the closing stock, treated the first insurance premium on a car as capital expenditure, disallowed the provision for head office expenses reversal, and mark to market loss on outstanding option contracts. It also disallowed various deductions under different sections for failure to deduct tax at source, leading to legal questions on the correctness of these decisions and tax deduction obligations. The eligibility of assets used for testing for deduction under section 35(1)(iv) was also disputed, raising questions on interpretation and eligibility criteria for deductions. Case-Laws Income Tax Thu, 19 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296927