https://www.taxtmi.com/caselaws?id=32126 The High Court upheld the Tribunal's decision on various issues, including the allowance of deductions for retrenchment compensation, interest, and legal expenses. It found that the closure of a specific unit did not signify the closure of the entire business, and expenses were legitimate business expenses. The Court also upheld the assessment of profit earned on the sale of property as "Capital Gains" and deemed the ITAT's order valid, dismissing the appeal due to the absence of substantial legal questions. en-us Tue, 13 Jan 2009 00:00:00 +0530 Fri, 01 Feb 2013 17:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32126 The High Court upheld the Tribunal's decision on various issues, including the allowance of deductions for retrenchment compensation, interest, and legal expenses. It found that the closure of a specific unit did not signify the closure of the entire business, and expenses were legitimate business expenses. The Court also upheld the assessment of profit earned on the sale of property as "Capital Gains" and deemed the ITAT's order valid, dismissing the appeal due to the absence of substantial legal questions. Case-Laws Income Tax Tue, 13 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32126