https://www.taxtmi.com/caselaws?id=269254 The Tribunal partially allowed the assessee's appeal regarding the disallowance of credits and liabilities. The disallowance of a credit of Rs. 3,00,000 to a creditor was overturned as it was deemed a carry forward with no evidence of receipt during the year. However, the disallowance of a liability of Rs. 7,50,000 was partially upheld, with Rs. 6,00,000 explained as part of the opening balance and Rs. 1,50,000 not reflected in the books for the relevant year. The Tribunal provided detailed reasoning for each issue and clarified the basis for its decision. en-us Fri, 09 Oct 2015 00:00:00 +0530 Fri, 11 Dec 2015 08:23:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269254 The Tribunal partially allowed the assessee's appeal regarding the disallowance of credits and liabilities. The disallowance of a credit of Rs. 3,00,000 to a creditor was overturned as it was deemed a carry forward with no evidence of receipt during the year. However, the disallowance of a liability of Rs. 7,50,000 was partially upheld, with Rs. 6,00,000 explained as part of the opening balance and Rs. 1,50,000 not reflected in the books for the relevant year. The Tribunal provided detailed reasoning for each issue and clarified the basis for its decision. Case-Laws Income Tax Fri, 09 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269254