https://www.taxtmi.com/caselaws?id=268799 The Income Tax Appellate Tribunal (ITAT) partially allowed the revenue's appeal, dismissing the issues related to the deletion of additions made by the Assessing Officer (AO) for a bogus liability and capital expenditure on maintenance of a new extension. However, the ITAT allowed the issue concerning the incorrect application of Rule 8 in determining the loss from the tea business as income from other sources for statistical purposes. The ITAT emphasized the necessity of proper assessment and adherence to tax rules in its detailed analyses of each issue. en-us Mon, 14 Sep 2015 00:00:00 +0530 Wed, 02 Dec 2015 02:14:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268799 The Income Tax Appellate Tribunal (ITAT) partially allowed the revenue's appeal, dismissing the issues related to the deletion of additions made by the Assessing Officer (AO) for a bogus liability and capital expenditure on maintenance of a new extension. However, the ITAT allowed the issue concerning the incorrect application of Rule 8 in determining the loss from the tea business as income from other sources for statistical purposes. The ITAT emphasized the necessity of proper assessment and adherence to tax rules in its detailed analyses of each issue. Case-Laws Income Tax Mon, 14 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268799