https://www.taxtmi.com/caselaws?id=61471 The Tribunal partly allowed both the assessee and the Revenue's appeals. The disallowance under Section 40A(5) of the IT Act was reduced, valuations of closing stock were adjusted, disallowances of interest, foreign travel expenses, camp office expenses, telephone expenses, and expenses for visits of export dealers were varied, deductions under Section 32AB were clarified, and relief in respect of interest charged under Section 215 was directed. The disallowance of gifts to dealers was remanded for verification, with the Tribunal expunging the CIT(A)'s observation on taxing gifts in the hands of dealers. en-us Tue, 12 May 1998 00:00:00 +0530 Wed, 12 Jan 2011 17:07:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61471 The Tribunal partly allowed both the assessee and the Revenue's appeals. The disallowance under Section 40A(5) of the IT Act was reduced, valuations of closing stock were adjusted, disallowances of interest, foreign travel expenses, camp office expenses, telephone expenses, and expenses for visits of export dealers were varied, deductions under Section 32AB were clarified, and relief in respect of interest charged under Section 215 was directed. The disallowance of gifts to dealers was remanded for verification, with the Tribunal expunging the CIT(A)'s observation on taxing gifts in the hands of dealers. Case-Laws Income Tax Tue, 12 May 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61471