https://www.taxtmi.com/caselaws?id=186547 The ITAT dismissed the appeal by the Assessing Officer challenging the CIT(A)'s order for the assessment year 2009-10. The ITAT upheld the deletion of the Rs. 2,90,20,000/- addition made by the Assessing Officer for quality claim expenses. It found the expenses were quantified and allowable deductions, rejecting the argument that they were contingent liabilities. The ITAT also supported the CIT(A)'s decision on the treatment of sale proceeds, emphasizing they did not constitute revenue receipts. The appeal was dismissed, affirming the CIT(A)'s order. en-us Mon, 04 Jan 2016 00:00:00 +0530 Thu, 22 Sep 2016 12:16:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186547 The ITAT dismissed the appeal by the Assessing Officer challenging the CIT(A)'s order for the assessment year 2009-10. The ITAT upheld the deletion of the Rs. 2,90,20,000/- addition made by the Assessing Officer for quality claim expenses. It found the expenses were quantified and allowable deductions, rejecting the argument that they were contingent liabilities. The ITAT also supported the CIT(A)'s decision on the treatment of sale proceeds, emphasizing they did not constitute revenue receipts. The appeal was dismissed, affirming the CIT(A)'s order. Case-Laws Income Tax Mon, 04 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186547