https://www.taxtmi.com/caselaws?id=433120 The Appellate Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 29.80 crores under section 37 of the Income Tax Act, 1961, as no real income had accrued to the assessee due to disputed claims. The Tribunal emphasized the importance of recognizing income based on certainty and legal principles, leading to the dismissal of the Revenue's appeal challenging the disallowance of expenditure and treatment of credit entries. en-us Fri, 20 Jan 2023 00:00:00 +0530 Sat, 21 Jan 2023 08:51:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433120 The Appellate Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 29.80 crores under section 37 of the Income Tax Act, 1961, as no real income had accrued to the assessee due to disputed claims. The Tribunal emphasized the importance of recognizing income based on certainty and legal principles, leading to the dismissal of the Revenue's appeal challenging the disallowance of expenditure and treatment of credit entries. Case-Laws Income Tax Fri, 20 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433120