https://www.taxtmi.com/caselaws?id=59627 The Tribunal partially allowed both the assessee's and the department's appeals. It upheld several disallowances against the assessee, including those under Rule 6D, Section 37(2A), and Section 37(4), citing precedents from higher courts. The Tribunal directed modifications regarding earlier year's expenditure and remanded the issue of interest under Section 234B for further consideration. It allowed the assessee's claim for depreciation on sale and leaseback transactions, determining such transactions as genuine. The Tribunal also upheld the deletion of club expenses and reversed some decisions, aligning with previous rulings and Supreme Court precedents. en-us Thu, 15 Feb 2007 00:00:00 +0530 Fri, 02 Feb 2024 13:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59627 The Tribunal partially allowed both the assessee's and the department's appeals. It upheld several disallowances against the assessee, including those under Rule 6D, Section 37(2A), and Section 37(4), citing precedents from higher courts. The Tribunal directed modifications regarding earlier year's expenditure and remanded the issue of interest under Section 234B for further consideration. It allowed the assessee's claim for depreciation on sale and leaseback transactions, determining such transactions as genuine. The Tribunal also upheld the deletion of club expenses and reversed some decisions, aligning with previous rulings and Supreme Court precedents. Case-Laws Income Tax Thu, 15 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59627