https://www.taxtmi.com/caselaws?id=60952 The Tribunal remitted the issue of profit earned from the sale of import entitlements back to the CIT (Appeals) for reconsideration following proposed amendments. Disallowances under various sections of the IT Act were upheld, except for the disallowance of Rs. 1,500 paid to the Employees' Union, which was allowed by the Tribunal due to its commercial expediency. The Tribunal also reduced the addition on account of the sale of scrap from Rs. 3 lakhs to Rs. 2 lakhs, citing lack of concrete evidence. The issue of CCS exemption was also remitted for reconsideration in line with legislative provisions. en-us Thu, 02 Sep 1993 00:00:00 +0530 Mon, 10 Jan 2011 11:14:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60952 The Tribunal remitted the issue of profit earned from the sale of import entitlements back to the CIT (Appeals) for reconsideration following proposed amendments. Disallowances under various sections of the IT Act were upheld, except for the disallowance of Rs. 1,500 paid to the Employees' Union, which was allowed by the Tribunal due to its commercial expediency. The Tribunal also reduced the addition on account of the sale of scrap from Rs. 3 lakhs to Rs. 2 lakhs, citing lack of concrete evidence. The issue of CCS exemption was also remitted for reconsideration in line with legislative provisions. Case-Laws Income Tax Thu, 02 Sep 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60952