https://www.taxtmi.com/caselaws?id=305818 The Tribunal directed the AO to delete additions under Section 41(1) of the Income Tax Act totaling Rs. 22,12,450/- and Rs. 2,32,289/- as the liabilities were acknowledged but not written off. Advances received were treated as income due to lack of evidence, upheld by the Tribunal. Various expenses disallowances were reduced from Rs. 96,100/- to Rs. 25,000/-. Car expenses and depreciation disallowance was reduced to 1/10th. General grounds of appeal were dismissed. The appeal was partly allowed with specific deletions and reductions. en-us Tue, 25 Mar 2014 00:00:00 +0530 Tue, 18 Apr 2023 11:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305818 The Tribunal directed the AO to delete additions under Section 41(1) of the Income Tax Act totaling Rs. 22,12,450/- and Rs. 2,32,289/- as the liabilities were acknowledged but not written off. Advances received were treated as income due to lack of evidence, upheld by the Tribunal. Various expenses disallowances were reduced from Rs. 96,100/- to Rs. 25,000/-. Car expenses and depreciation disallowance was reduced to 1/10th. General grounds of appeal were dismissed. The appeal was partly allowed with specific deletions and reductions. Case-Laws Income Tax Tue, 25 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305818