https://www.taxtmi.com/caselaws?id=429284 The ITAT dismissed both the Assessee's and Revenue's appeals. It affirmed the disallowance of 10% of the consumption on foods and beverages and the treatment of certain expenses as capital expenditure, while allowing depreciation. The penalty imposed by the AO was deleted as it was based on estimation, and no inaccurate particulars were furnished by the Assessee. en-us Wed, 19 Oct 2022 00:00:00 +0530 Fri, 21 Oct 2022 07:26:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429284 The ITAT dismissed both the Assessee's and Revenue's appeals. It affirmed the disallowance of 10% of the consumption on foods and beverages and the treatment of certain expenses as capital expenditure, while allowing depreciation. The penalty imposed by the AO was deleted as it was based on estimation, and no inaccurate particulars were furnished by the Assessee. Case-Laws Income Tax Wed, 19 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429284