https://www.taxtmi.com/caselaws?id=60692 The Tribunal partly allowed the appeal, reversing some lower authorities' decisions while upholding others. Capital gains tax was not levied on bonus shares, but was applicable to original shares. Service charges were allowed, while travelling expenses were disallowed due to lack of documentary evidence. Legal expenses were allowed as revenue expenses, but share transfer expenses were considered part of acquisition cost. Losses in joint ventures were allowed as business losses, bad debt claim was accepted, and charity donations were disallowed. Interest charges were upheld. The disagreement between members led to the involvement of a Third Member, resulting in the disallowance of certain deductions. en-us Thu, 16 Jan 2003 00:00:00 +0530 Fri, 07 Jan 2011 16:22:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60692 The Tribunal partly allowed the appeal, reversing some lower authorities' decisions while upholding others. Capital gains tax was not levied on bonus shares, but was applicable to original shares. Service charges were allowed, while travelling expenses were disallowed due to lack of documentary evidence. Legal expenses were allowed as revenue expenses, but share transfer expenses were considered part of acquisition cost. Losses in joint ventures were allowed as business losses, bad debt claim was accepted, and charity donations were disallowed. Interest charges were upheld. The disagreement between members led to the involvement of a Third Member, resulting in the disallowance of certain deductions. Case-Laws Income Tax Thu, 16 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60692