https://www.taxtmi.com/caselaws?id=456416 The ITAT Mumbai addressed two issues in the appeal. For the disallowance of Rs.1,66,74,500 towards obsolete/non-moving material, the Tribunal set aside the disallowance, partly allowing the appeal in favor of the assessee. Regarding the tax treatment of Rs.6,44,42,000 premium on debenture redemption, the Tribunal upheld the CIT(A)'s decision to treat it as a revenue receipt taxable under "Income from other sources," confirming the tax treatment and partly allowing the appeal. en-us Mon, 25 Jan 2010 00:00:00 +0530 Wed, 24 Jul 2024 12:10:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456416 The ITAT Mumbai addressed two issues in the appeal. For the disallowance of Rs.1,66,74,500 towards obsolete/non-moving material, the Tribunal set aside the disallowance, partly allowing the appeal in favor of the assessee. Regarding the tax treatment of Rs.6,44,42,000 premium on debenture redemption, the Tribunal upheld the CIT(A)'s decision to treat it as a revenue receipt taxable under "Income from other sources," confirming the tax treatment and partly allowing the appeal. Case-Laws Income Tax Mon, 25 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456416