https://www.taxtmi.com/caselaws?id=55920 The Tribunal allowed the claim for disallowance of bonus paid to employees in full, following its earlier decision. The claim for commission paid to sales representatives was also allowed entirely due to consistent past practices. However, the claim for investment allowance due to fluctuation in foreign currency rates was rejected, along with the deduction of interest on the refund of excise duty. The claim for loss on the sale of furniture at the guest house was denied due to lack of evidence. The deduction of surtax liability was rejected, while the depreciation calculation was adjusted to exclude the annulled assessment year. The payment to M/s Ajax Business Services Ltd. was allowed in full, and the expenditure on issuing bonus shares was deemed capital in nature. en-us Mon, 30 Sep 1991 00:00:00 +0530 Tue, 30 Nov 2010 16:40:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55920 The Tribunal allowed the claim for disallowance of bonus paid to employees in full, following its earlier decision. The claim for commission paid to sales representatives was also allowed entirely due to consistent past practices. However, the claim for investment allowance due to fluctuation in foreign currency rates was rejected, along with the deduction of interest on the refund of excise duty. The claim for loss on the sale of furniture at the guest house was denied due to lack of evidence. The deduction of surtax liability was rejected, while the depreciation calculation was adjusted to exclude the annulled assessment year. The payment to M/s Ajax Business Services Ltd. was allowed in full, and the expenditure on issuing bonus shares was deemed capital in nature. Case-Laws Income Tax Mon, 30 Sep 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55920