https://www.taxtmi.com/caselaws?id=414159 The High Court upheld the ITAT's decision, finding no infirmity in the order. The Respondent's appeal was justified as the negative reserve was part of the assessment documents, indicating no failure to disclose material facts necessary for assessment. The ITAT deleted the addition made on account of the negative reserve, emphasizing its impact on the taxable surplus. Since the assessment order was set aside, the High Court noted that the issue of deletion of the addition did not arise as a substantial question of law. en-us Sat, 23 Oct 2021 00:00:00 +0530 Fri, 29 Oct 2021 08:40:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414159 The High Court upheld the ITAT's decision, finding no infirmity in the order. The Respondent's appeal was justified as the negative reserve was part of the assessment documents, indicating no failure to disclose material facts necessary for assessment. The ITAT deleted the addition made on account of the negative reserve, emphasizing its impact on the taxable surplus. Since the assessment order was set aside, the High Court noted that the issue of deletion of the addition did not arise as a substantial question of law. Case-Laws Income Tax Sat, 23 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414159