https://www.taxtmi.com/caselaws?id=340723 The Tribunal upheld the CIT(A)'s order, dismissing the revenue's appeal. It found the reassessment proceedings invalid due to the absence of fresh tangible material and confirmed the compensation of Rs. 6.50 crores as a genuine and ascertained liability, allowable as a business expense. The decision was announced in open court at the hearing's end. en-us Wed, 22 Mar 2017 00:00:00 +0530 Sat, 25 Mar 2017 09:27:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340723 The Tribunal upheld the CIT(A)'s order, dismissing the revenue's appeal. It found the reassessment proceedings invalid due to the absence of fresh tangible material and confirmed the compensation of Rs. 6.50 crores as a genuine and ascertained liability, allowable as a business expense. The decision was announced in open court at the hearing's end. Case-Laws Income Tax Wed, 22 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340723