https://www.taxtmi.com/caselaws?id=431465 The Tribunal concluded in favor of the assessee, allowing the expenditure claimed in the profit and loss account due to adjustments from the final opening balance sheet notified by the State Government. The disallowance of the expenditure by the Assessing Officer was overturned, with directions given to compute qualifying amounts for deductions and allow provisions subject to relevant provisions of the Income Tax Act. The Revenue's appeal was dismissed, and the assessee's claims were upheld by the Tribunal. en-us Fri, 09 Dec 2022 00:00:00 +0530 Wed, 14 Dec 2022 09:06:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431465 The Tribunal concluded in favor of the assessee, allowing the expenditure claimed in the profit and loss account due to adjustments from the final opening balance sheet notified by the State Government. The disallowance of the expenditure by the Assessing Officer was overturned, with directions given to compute qualifying amounts for deductions and allow provisions subject to relevant provisions of the Income Tax Act. The Revenue's appeal was dismissed, and the assessee's claims were upheld by the Tribunal. Case-Laws Income Tax Fri, 09 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431465