https://www.taxtmi.com/caselaws?id=436354 The Tribunal partly allowed the appeals filed by the assessee for Assessment Years 2012-13, 2013-14, and 2014-15. The Tribunal held that the ex-parte order passed by the CIT(A) was a denial of natural justice. It deleted the ad-hoc disallowance of credit card and foreign travel expenses, finding them unjustified. The disallowance of brokerage expenses was also deleted as genuine business expenditures. Sales tax incentives were treated as capital receipts and excluded from book profit computation under Section 115JB, following judicial precedents. Other general and consequential grounds raised were not specifically adjudicated upon. en-us Mon, 27 Mar 2023 00:00:00 +0530 Tue, 11 Apr 2023 09:12:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436354 The Tribunal partly allowed the appeals filed by the assessee for Assessment Years 2012-13, 2013-14, and 2014-15. The Tribunal held that the ex-parte order passed by the CIT(A) was a denial of natural justice. It deleted the ad-hoc disallowance of credit card and foreign travel expenses, finding them unjustified. The disallowance of brokerage expenses was also deleted as genuine business expenditures. Sales tax incentives were treated as capital receipts and excluded from book profit computation under Section 115JB, following judicial precedents. Other general and consequential grounds raised were not specifically adjudicated upon. Case-Laws Income Tax Mon, 27 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436354