https://www.taxtmi.com/caselaws?id=59568 The Tribunal ruled in favor of the assessee on various issues: 1) Outward freight charges were not required to be included in the valuation of closing stock; 2) Modvat credit should not be added to the closing stock; 3) Deduction for bad debts written off was allowed; 4) Lump sum payment for infrastructure facilities was considered capital expenditure; 5) Cost for extending the treated effluent discharge pipeline was subject to ownership verification; 6) Expenditure on advertisement films was treated as revenue, not capital. The appeals for the relevant assessment years were partly allowed for statistical purposes with specific directions provided. en-us Mon, 12 Jan 2009 00:00:00 +0530 Wed, 01 Aug 2012 13:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59568 The Tribunal ruled in favor of the assessee on various issues: 1) Outward freight charges were not required to be included in the valuation of closing stock; 2) Modvat credit should not be added to the closing stock; 3) Deduction for bad debts written off was allowed; 4) Lump sum payment for infrastructure facilities was considered capital expenditure; 5) Cost for extending the treated effluent discharge pipeline was subject to ownership verification; 6) Expenditure on advertisement films was treated as revenue, not capital. The appeals for the relevant assessment years were partly allowed for statistical purposes with specific directions provided. Case-Laws Income Tax Mon, 12 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59568