2011 (9) TMI 1232

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....from exchange rate fluctuations in subsequent years and allowing the investment allowance on such enhanced cost ? (b) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in holding that the expenses on tea, coffee, snacks, etc. provided to the customers, suppliers and expenses on company's guest and expenditure on auditors did not constitute entertainment expenses within the meaning of Sec. 37(2) of the I.T. Act, 1961 read with clause (iii) of the explanation therein ? (c) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in allowing expenditure of Rs. 14,31,555/- being expenditure incurred on account of fabric show, meeting and sal....

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.... Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in holding that the interest accrued but not due on securities should not be taxed as income for the year despite the fact that the assessee is following mercantile system of accounting and that it has accounted for such interest in the books ? (j) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in allowing proportionate premium payable on the redemption of bonds during the year, as expenditure ? (k) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in allowing depreciation on intake well, telpher plant and shortage tank at the rate....