https://www.taxtmi.com/caselaws?id=410575 The Hon'ble Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) to delete the addition made under section 41(1) of the Income-tax Act, 1961. The Tribunal dismissed the Revenue's appeal, emphasizing the importance of concrete evidence beyond non-compliance notices to sustain such additions. The deletion was justified based on various submissions, affidavits, and considerations of the mercantile system of accounting, ultimately ruling in favor of the assessee company. en-us Tue, 13 Jul 2021 00:00:00 +0530 Thu, 05 Aug 2021 08:43:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410575 The Hon'ble Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) to delete the addition made under section 41(1) of the Income-tax Act, 1961. The Tribunal dismissed the Revenue's appeal, emphasizing the importance of concrete evidence beyond non-compliance notices to sustain such additions. The deletion was justified based on various submissions, affidavits, and considerations of the mercantile system of accounting, ultimately ruling in favor of the assessee company. Case-Laws Income Tax Tue, 13 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410575