https://www.taxtmi.com/caselaws?id=376577 The Tribunal dismissed both appeals, upholding the CIT(A)'s decisions to delete the addition of prior year expenses and outstanding liabilities for the respective assessment years. In A.Y. 2006-07, various disallowances were examined individually, with the Tribunal supporting the CIT(A)'s rulings on expenses like Provident Fund payment, property tax, rent, and interest payments. For A.Y. 2007-08, the deletion of outstanding liabilities was upheld as the amount was voluntarily offered for taxation in a subsequent year, with no cessation of trading liability event in the relevant year. en-us Fri, 08 Feb 2019 00:00:00 +0530 Tue, 12 Mar 2019 15:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376577 The Tribunal dismissed both appeals, upholding the CIT(A)'s decisions to delete the addition of prior year expenses and outstanding liabilities for the respective assessment years. In A.Y. 2006-07, various disallowances were examined individually, with the Tribunal supporting the CIT(A)'s rulings on expenses like Provident Fund payment, property tax, rent, and interest payments. For A.Y. 2007-08, the deletion of outstanding liabilities was upheld as the amount was voluntarily offered for taxation in a subsequent year, with no cessation of trading liability event in the relevant year. Case-Laws Income Tax Fri, 08 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376577