https://www.taxtmi.com/caselaws?id=251246 The High Court dismissed the appeals, upholding the Tribunal's decision to delete unexplained liabilities and its interpretation of Section 68 of the Income Tax Act. The Court emphasized the necessity of providing satisfactory explanations for entries in books of accounts to prevent adverse tax consequences, affirming the Tribunal's findings and finding no significant legal issues in the case. en-us Fri, 05 Sep 2014 00:00:00 +0530 Mon, 08 Sep 2014 10:55:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251246 The High Court dismissed the appeals, upholding the Tribunal's decision to delete unexplained liabilities and its interpretation of Section 68 of the Income Tax Act. The Court emphasized the necessity of providing satisfactory explanations for entries in books of accounts to prevent adverse tax consequences, affirming the Tribunal's findings and finding no significant legal issues in the case. Case-Laws Income Tax Fri, 05 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251246