2013 (7) TMI 1233 - HC - Income Tax

Summary

The High Court of Telangana dismissed the appeal against the Tribunal's decision to allow deduction of an unrecovered amount of Rs.4.85 crores as manufacturing expenses. The Tribunal ruled that since the amount was written off in the books of account due to the supplier company's non-existence, it cannot be questioned later. The decision was based on factual considerations, not legal issues.