https://www.taxtmi.com/caselaws?id=55359 The appeal was partly allowed in the case. The Tribunal ruled in favor of the assessee regarding the disallowance of the value of presentation articles under r. 6B and the disallowance of interest on advances under s. 36(1)(iii). The Tribunal directed the AO to verify guest house expenses under s. 37(4) and make necessary adjustments for the gain on cancellation of foreign exchange contracts. It also instructed the AO to allow depreciation on the Butachlor plant and recompute interest u/s 234B after considering the appellate order. en-us Wed, 04 Aug 1999 00:00:00 +0530 Thu, 25 Nov 2010 18:56:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55359 The appeal was partly allowed in the case. The Tribunal ruled in favor of the assessee regarding the disallowance of the value of presentation articles under r. 6B and the disallowance of interest on advances under s. 36(1)(iii). The Tribunal directed the AO to verify guest house expenses under s. 37(4) and make necessary adjustments for the gain on cancellation of foreign exchange contracts. It also instructed the AO to allow depreciation on the Butachlor plant and recompute interest u/s 234B after considering the appellate order. Case-Laws Income Tax Wed, 04 Aug 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55359