https://www.taxtmi.com/caselaws?id=361459 The Tribunal dismissed the appeal against the CIT(A)'s decision to delete the disallowance of Rs. 53,04,968 as a contingent liability for the assessment year 2012-13. The appellant's argument regarding the amount being retention money was not consistent throughout the proceedings, leading to the dismissal of the appeal. The decision emphasized the importance of maintaining coherence in arguments and adhering to legal and accounting standards in determining the allowability of expenses under the Income Tax Act. en-us Thu, 31 May 2018 00:00:00 +0530 Thu, 07 Jun 2018 08:58:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361459 The Tribunal dismissed the appeal against the CIT(A)'s decision to delete the disallowance of Rs. 53,04,968 as a contingent liability for the assessment year 2012-13. The appellant's argument regarding the amount being retention money was not consistent throughout the proceedings, leading to the dismissal of the appeal. The decision emphasized the importance of maintaining coherence in arguments and adhering to legal and accounting standards in determining the allowability of expenses under the Income Tax Act. Case-Laws Income Tax Thu, 31 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361459