https://www.taxtmi.com/caselaws?id=259308 The Appellate Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 1,14,63,360/- by the AO for provision of expenses, as the expenses were accrued, ascertained liabilities under the mercantile system of accounting. The Tribunal dismissed the Revenue's appeal as it failed to provide material to challenge the CIT(A)'s findings. The issue of the validity of reopening the assessment was not decided due to the favorable ruling on the expense provision. Both the Revenue's appeal and the assessee's cross objection were dismissed. en-us Fri, 13 Mar 2015 00:00:00 +0530 Thu, 07 May 2015 07:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259308 The Appellate Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 1,14,63,360/- by the AO for provision of expenses, as the expenses were accrued, ascertained liabilities under the mercantile system of accounting. The Tribunal dismissed the Revenue's appeal as it failed to provide material to challenge the CIT(A)'s findings. The issue of the validity of reopening the assessment was not decided due to the favorable ruling on the expense provision. Both the Revenue's appeal and the assessee's cross objection were dismissed. Case-Laws Income Tax Fri, 13 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259308