https://www.taxtmi.com/caselaws?id=439691 The ITAT allowed the assessee's appeal partly, overturning the disallowance of office expenses and consultancy expenses, as well as excluding the excise duty component from closing stock valuation. The disallowance of Attimari Coolie expenses and penalty proceedings under section 271(1)(c) were dismissed. The appeal against the penalty was fully allowed, with the ITAT deeming the imposition of penalty unjustified based on precedents. en-us Wed, 15 Feb 2023 00:00:00 +0530 Thu, 29 Jun 2023 10:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439691 The ITAT allowed the assessee's appeal partly, overturning the disallowance of office expenses and consultancy expenses, as well as excluding the excise duty component from closing stock valuation. The disallowance of Attimari Coolie expenses and penalty proceedings under section 271(1)(c) were dismissed. The appeal against the penalty was fully allowed, with the ITAT deeming the imposition of penalty unjustified based on precedents. Case-Laws Income Tax Wed, 15 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439691