https://www.taxtmi.com/caselaws?id=237552 The Tribunal upheld the deletion of additions made by the Assessing Officer under section 68 of the Income Tax Act amounting to Rs. 23,00,000 and Rs. 13,75,874 on account of cessation of liability for the Assessment Year 2008-09. The Tribunal found that the assessee had provided satisfactory evidence and fulfilled its obligations, while the Assessing Officer's actions lacked proper verification and clarity. Both the CIT [A] and the Tribunal concluded in favor of the assessee, emphasizing the factual nature of the issues and dismissing the Tax Appeal. en-us Mon, 05 Aug 2013 00:00:00 +0530 Mon, 30 Sep 2013 21:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237552 The Tribunal upheld the deletion of additions made by the Assessing Officer under section 68 of the Income Tax Act amounting to Rs. 23,00,000 and Rs. 13,75,874 on account of cessation of liability for the Assessment Year 2008-09. The Tribunal found that the assessee had provided satisfactory evidence and fulfilled its obligations, while the Assessing Officer's actions lacked proper verification and clarity. Both the CIT [A] and the Tribunal concluded in favor of the assessee, emphasizing the factual nature of the issues and dismissing the Tax Appeal. Case-Laws Income Tax Mon, 05 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237552