https://www.taxtmi.com/caselaws?id=341633 The ITAT ruled in favor of the assessee, allowing the appeal and deleting the disallowance of outstanding liability in the balance sheet and transportation expenses. The ITAT found the AO's approach unjustified as the liability could not be disallowed without proving it ceased and there was a lack of evidence supporting the assumptions made. The adhoc disallowance of car expenses was rejected as the counsel did not press the ground. Overall, the appeal was partly allowed, emphasizing the importance of concrete evidence and proper application of tax provisions. en-us Tue, 11 Apr 2017 00:00:00 +0530 Fri, 14 Apr 2017 06:58:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341633 The ITAT ruled in favor of the assessee, allowing the appeal and deleting the disallowance of outstanding liability in the balance sheet and transportation expenses. The ITAT found the AO's approach unjustified as the liability could not be disallowed without proving it ceased and there was a lack of evidence supporting the assumptions made. The adhoc disallowance of car expenses was rejected as the counsel did not press the ground. Overall, the appeal was partly allowed, emphasizing the importance of concrete evidence and proper application of tax provisions. Case-Laws Income Tax Tue, 11 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341633