https://www.taxtmi.com/caselaws?id=260097 The Tribunal upheld the CIT(A)'s decisions on all issues raised by the Assessing Officer, including the deletion of additions related to unclaimed liabilities, cessation of liability, unclaimed liability in the name of a specific individual, and salary expenses. The Tribunal emphasized that the liabilities were acknowledged in subsequent balance sheets, the genuineness of the loan transaction was established, and the increase in salary expenses was justified due to specific circumstances. Ultimately, the Tribunal dismissed the appeal, affirming the CIT(A)'s decisions. en-us Fri, 27 Mar 2015 00:00:00 +0530 Tue, 02 Jun 2015 06:00:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260097 The Tribunal upheld the CIT(A)'s decisions on all issues raised by the Assessing Officer, including the deletion of additions related to unclaimed liabilities, cessation of liability, unclaimed liability in the name of a specific individual, and salary expenses. The Tribunal emphasized that the liabilities were acknowledged in subsequent balance sheets, the genuineness of the loan transaction was established, and the increase in salary expenses was justified due to specific circumstances. Ultimately, the Tribunal dismissed the appeal, affirming the CIT(A)'s decisions. Case-Laws Income Tax Fri, 27 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260097