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<h1>ITAT allows deduction of income tax liabilities for assessment years 1974-75 and 1975-76.</h1> The Income Tax Appellate Tribunal (ITAT) dismissed the appeal by the Department regarding the deduction of income-tax liabilities for assessment years ... - The assessee claimed deduction of income-tax liabilities for asst. yrs. 1974-75 and 1975-76. WTO disallowed claim, AAC allowed it. Department appealed, arguing liabilities were over a year old. ITAT held liabilities not disallowed as no orders determining them on valuation date. Appeal dismissed.