https://www.taxtmi.com/caselaws?id=411554 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the addition of Rs. 18,00,00,000 related to interest on overdue deposits. The Tribunal affirmed that the liability was definite and ascertained, in line with the RBI circular and consistent accounting policy. Additionally, the Tribunal found no justification for rectification under section 154, as the liability had been previously determined as definite and accepted by the Assessing Officer in earlier assessments. en-us Fri, 27 Aug 2021 00:00:00 +0530 Sat, 28 Aug 2021 16:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411554 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the addition of Rs. 18,00,00,000 related to interest on overdue deposits. The Tribunal affirmed that the liability was definite and ascertained, in line with the RBI circular and consistent accounting policy. Additionally, the Tribunal found no justification for rectification under section 154, as the liability had been previously determined as definite and accepted by the Assessing Officer in earlier assessments. Case-Laws Income Tax Fri, 27 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411554