https://www.taxtmi.com/caselaws?id=357654 The appeal under Section 260-A of the Income Tax Act, 1961 against the ITAT's order for the assessment year 2007-08 was dismissed. The additions made on account of Sundry Creditors, Unclaimed Liability, and Bad Debts were deleted in favor of the assessee. The court emphasized the necessity of evidence and actual write-off in the accounts to establish liabilities and bad debts. The Tribunal's findings and legal precedents supported the decision to dismiss the appeal and rule in favor of the assessee on all issues raised. en-us Fri, 09 Mar 2018 00:00:00 +0530 Thu, 19 Jul 2018 17:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357654 The appeal under Section 260-A of the Income Tax Act, 1961 against the ITAT's order for the assessment year 2007-08 was dismissed. The additions made on account of Sundry Creditors, Unclaimed Liability, and Bad Debts were deleted in favor of the assessee. The court emphasized the necessity of evidence and actual write-off in the accounts to establish liabilities and bad debts. The Tribunal's findings and legal precedents supported the decision to dismiss the appeal and rule in favor of the assessee on all issues raised. Case-Laws Income Tax Fri, 09 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357654