https://www.taxtmi.com/caselaws?id=217429 The ITAT upheld the CIT(A)'s decisions in the case, dismissing the Revenue's appeal and the assessee's cross-objection. The judgments highlighted the importance of reliable estimates in provisions for liabilities, the need for evidence to support additions based on lower profit rates, the distinction between revenue and capital expenditures, and the timing of income recognition in cases of service charges received in advance. The decision underscored adherence to legal principles governing financial matters. en-us Mon, 01 Oct 2012 00:00:00 +0530 Wed, 06 Apr 2016 16:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217429 The ITAT upheld the CIT(A)'s decisions in the case, dismissing the Revenue's appeal and the assessee's cross-objection. The judgments highlighted the importance of reliable estimates in provisions for liabilities, the need for evidence to support additions based on lower profit rates, the distinction between revenue and capital expenditures, and the timing of income recognition in cases of service charges received in advance. The decision underscored adherence to legal principles governing financial matters. Case-Laws Income Tax Mon, 01 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217429