https://www.taxtmi.com/caselaws?id=342457 The ITAT Jaipur upheld the Ld. CIT(A)'s decision to reduce the trading addition and delete the addition made on account of ceased liability, dismissing the Revenue's appeal in its entirety. The Tribunal found no infirmity in the Ld. CIT(A)'s orders and affirmed the reduction in trading addition based on turnover and historical data, while also ruling that unpaid liabilities cannot be added to income without proper evidence under section 41(1) of the IT Act, 1961. en-us Tue, 25 Apr 2017 00:00:00 +0530 Wed, 10 May 2017 18:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342457 The ITAT Jaipur upheld the Ld. CIT(A)'s decision to reduce the trading addition and delete the addition made on account of ceased liability, dismissing the Revenue's appeal in its entirety. The Tribunal found no infirmity in the Ld. CIT(A)'s orders and affirmed the reduction in trading addition based on turnover and historical data, while also ruling that unpaid liabilities cannot be added to income without proper evidence under section 41(1) of the IT Act, 1961. Case-Laws Income Tax Tue, 25 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342457