https://www.taxtmi.com/caselaws?id=264440 The ITAT Ahmedabad upheld the decisions of the CIT (A) in both issues, dismissing the Revenue's appeal in its entirety. The first issue involved the deletion of addition made u/s. 41(1) as cessation of liability, where the ITAT agreed with the CIT (A) that only liabilities ceased but allowed as deductions in earlier years could be added under section 41(1). The second issue concerned the deletion of addition for estimated interest on diversion of funds, with the ITAT supporting the CIT (A)'s decision that the AO's conclusion lacked factual support. en-us Thu, 25 Jun 2015 00:00:00 +0530 Sat, 26 Sep 2015 10:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264440 The ITAT Ahmedabad upheld the decisions of the CIT (A) in both issues, dismissing the Revenue's appeal in its entirety. The first issue involved the deletion of addition made u/s. 41(1) as cessation of liability, where the ITAT agreed with the CIT (A) that only liabilities ceased but allowed as deductions in earlier years could be added under section 41(1). The second issue concerned the deletion of addition for estimated interest on diversion of funds, with the ITAT supporting the CIT (A)'s decision that the AO's conclusion lacked factual support. Case-Laws Income Tax Thu, 25 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264440