https://www.taxtmi.com/caselaws?id=467765 Estimated disallowance of miscellaneous, telephone and vehicle expenses was deleted because it was based only on suspicion and no specific non-business defect was shown. Section 14A disallowance was also deleted since no exempt income had been earned. Debit balances written off were allowed as a bad debt or business loss because actual write-off in the books and business nexus were established. DPCO liability was held deductible as a crystallised business statutory liability under the mercantile system despite dispute. Brokerage for arranging loans was disallowed for want of proof that the funds were used for business purposes. The fair market value of factory land as on 01.04.1981 was remitted for fresh valuation-based determination. en-us Tue, 08 Jul 2025 00:00:00 +0530 Wed, 01 Apr 2026 23:24:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467765 Estimated disallowance of miscellaneous, telephone and vehicle expenses was deleted because it was based only on suspicion and no specific non-business defect was shown. Section 14A disallowance was also deleted since no exempt income had been earned. Debit balances written off were allowed as a bad debt or business loss because actual write-off in the books and business nexus were established. DPCO liability was held deductible as a crystallised business statutory liability under the mercantile system despite dispute. Brokerage for arranging loans was disallowed for want of proof that the funds were used for business purposes. The fair market value of factory land as on 01.04.1981 was remitted for fresh valuation-based determination. Case-Laws Income Tax Tue, 08 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467765