https://www.taxtmi.com/caselaws?id=260529 The Tribunal upheld the Ld. CIT(A)'s decision to delete the addition of unexplained expenditure, noting genuine purchases supported by confirmations and lack of evidence to disbelieve explanations. The addition on account of remission of liability was partially confirmed due to lack of outstanding balance confirmation, allowing relief for part payments made. The Revenue's appeal was dismissed as the assessee's explanations were satisfactory with supporting documentary evidence. Assessee's appeal against the addition of creditors as cessation of liability was allowed as payments were made in subsequent years, indicating no cessation during the relevant assessment year. en-us Tue, 02 Jun 2015 00:00:00 +0530 Mon, 15 Jun 2015 16:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260529 The Tribunal upheld the Ld. CIT(A)'s decision to delete the addition of unexplained expenditure, noting genuine purchases supported by confirmations and lack of evidence to disbelieve explanations. The addition on account of remission of liability was partially confirmed due to lack of outstanding balance confirmation, allowing relief for part payments made. The Revenue's appeal was dismissed as the assessee's explanations were satisfactory with supporting documentary evidence. Assessee's appeal against the addition of creditors as cessation of liability was allowed as payments were made in subsequent years, indicating no cessation during the relevant assessment year. Case-Laws Income Tax Tue, 02 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260529