https://www.taxtmi.com/caselaws?id=379288 The Tribunal allowed the appellant's appeal for Assessment Year (AY) 2009-10, deleting the disallowance of business expenditures and addition on account of cession of outstanding liabilities. The Tribunal found the expenditures necessary for maintaining the corporate personality and confirmed the liabilities as current. Similarly, for AY 2010-11, the Tribunal deleted the expense disallowance and addition on account of cessation of liability, based on the same analysis as the previous year. Both appeals were allowed in April 2019. en-us Thu, 25 Apr 2019 00:00:00 +0530 Wed, 01 May 2019 06:33:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379288 The Tribunal allowed the appellant's appeal for Assessment Year (AY) 2009-10, deleting the disallowance of business expenditures and addition on account of cession of outstanding liabilities. The Tribunal found the expenditures necessary for maintaining the corporate personality and confirmed the liabilities as current. Similarly, for AY 2010-11, the Tribunal deleted the expense disallowance and addition on account of cessation of liability, based on the same analysis as the previous year. Both appeals were allowed in April 2019. Case-Laws Income Tax Thu, 25 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379288