https://www.taxtmi.com/caselaws?id=57756 The Tribunal upheld the disallowance of the Section 32AB claim, emphasizing that deductions should be made from profits of an "eligible business" and not from income under other heads like house property or other sources. However, the Tribunal reversed the disallowance of telephone expenses related to directors' residential phones, stating that such expenses should be treated as business expenses and any personal use by directors should be considered a perquisite, not a disallowance in the company's assessment. The appeals resulted in partial allowance for the assessment year 1989-90 and full allowance for the assessment year 1990-91. en-us Mon, 20 Nov 2000 00:00:00 +0530 Mon, 13 Dec 2010 12:52:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57756 The Tribunal upheld the disallowance of the Section 32AB claim, emphasizing that deductions should be made from profits of an "eligible business" and not from income under other heads like house property or other sources. However, the Tribunal reversed the disallowance of telephone expenses related to directors' residential phones, stating that such expenses should be treated as business expenses and any personal use by directors should be considered a perquisite, not a disallowance in the company's assessment. The appeals resulted in partial allowance for the assessment year 1989-90 and full allowance for the assessment year 1990-91. Case-Laws Income Tax Mon, 20 Nov 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57756