https://www.taxtmi.com/caselaws?id=267942 The Tribunal dismissed both appeals, upholding decisions in favor of the assessee for assessment years 2005-06 and 2008-09. The deletion of disallowance under section 41(1) for 2005-06 was justified as the creditors were related to clients, not liabilities of the assessee. Additionally, the disallowance of decreased income due to a change in accounting method for consultancy fees was deemed appropriate. For 2008-09, the deletion of addition in respect of static creditors and allowing higher depreciation on computer peripherals were upheld, based on precedents and evidence presented. en-us Wed, 21 Oct 2015 00:00:00 +0530 Tue, 17 Nov 2015 05:57:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267942 The Tribunal dismissed both appeals, upholding decisions in favor of the assessee for assessment years 2005-06 and 2008-09. The deletion of disallowance under section 41(1) for 2005-06 was justified as the creditors were related to clients, not liabilities of the assessee. Additionally, the disallowance of decreased income due to a change in accounting method for consultancy fees was deemed appropriate. For 2008-09, the deletion of addition in respect of static creditors and allowing higher depreciation on computer peripherals were upheld, based on precedents and evidence presented. Case-Laws Income Tax Wed, 21 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267942