https://www.taxtmi.com/caselaws?id=56132 The Tribunal upheld the disallowance of the sales-tax provision as it was made out of doubt and precaution, not based on a definite liability. The denial of additional depreciation and investment allowance on foreign exchange rate difference for machinery installed in previous years was affirmed, as conditions for these deductions were not met. The levy of interest under section 215 was overturned, as the provision for sales-tax was made in good faith and did not result in a shortfall in advance tax payments. The Tribunal rejected the Revenue's appeal on the treatment of subsidy and exchange rate difference, upholding the CIT (Appeals)'s decisions. en-us Fri, 22 Mar 1991 00:00:00 +0530 Wed, 01 Dec 2010 17:36:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56132 The Tribunal upheld the disallowance of the sales-tax provision as it was made out of doubt and precaution, not based on a definite liability. The denial of additional depreciation and investment allowance on foreign exchange rate difference for machinery installed in previous years was affirmed, as conditions for these deductions were not met. The levy of interest under section 215 was overturned, as the provision for sales-tax was made in good faith and did not result in a shortfall in advance tax payments. The Tribunal rejected the Revenue's appeal on the treatment of subsidy and exchange rate difference, upholding the CIT (Appeals)'s decisions. Case-Laws Income Tax Fri, 22 Mar 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56132