https://www.taxtmi.com/caselaws?id=256169 The Revenue's appeal was dismissed in the case. The disallowance of vehicle maintenance expenses and car depreciation was overturned due to lack of evidence supporting the AO's decision. The addition under Section 41(1) for outstanding balances and unsecured loans payable was partially upheld by the CIT(A) but later deemed unjustified by the Tribunal as the liabilities were continuously acknowledged by the assessee. Disallowance of creditor balances due to non-compliance of notices was sustained. Overall, the Revenue's appeal was unsuccessful, and the assessee's appeal was partly allowed for statistical purposes. en-us Fri, 21 Nov 2014 00:00:00 +0530 Wed, 04 Feb 2015 13:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256169 The Revenue's appeal was dismissed in the case. The disallowance of vehicle maintenance expenses and car depreciation was overturned due to lack of evidence supporting the AO's decision. The addition under Section 41(1) for outstanding balances and unsecured loans payable was partially upheld by the CIT(A) but later deemed unjustified by the Tribunal as the liabilities were continuously acknowledged by the assessee. Disallowance of creditor balances due to non-compliance of notices was sustained. Overall, the Revenue's appeal was unsuccessful, and the assessee's appeal was partly allowed for statistical purposes. Case-Laws Income Tax Fri, 21 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256169