Income-tax additions regarding disallowances, business expenditures, foreign exchange losses, and depreciation are partially sustainable.
Income-tax additions regarding disallowances, business expenditures, foreign exchange losses, and depreciation are partially sustainable. Issue Whether the various additions and disallowances made by the Assessing Officer concerning exempt income, business expenditures, foreign exchange losses, shipping repairs, demurrage, export commission, additional depreciation, road construction, and capital gains were legally sustainable. Facts The assessee, engaged in the… Read More »