https://www.taxtmi.com/caselaws?id=307903 The ITAT Delhi upheld the Ld. CIT(A)'s decision, ruling that the liabilities remained outstanding, were not written off in the audited books of accounts, and were presumed to exist at the end of the relevant financial year. As the liabilities were not treated as bad debts or shown to have ceased to exist, the ITAT found no grounds to intervene with the Ld. CIT(A)'s findings. Consequently, the Revenue's appeal was dismissed. en-us Tue, 31 May 2022 00:00:00 +0530 Tue, 16 May 2023 08:34:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307903 The ITAT Delhi upheld the Ld. CIT(A)'s decision, ruling that the liabilities remained outstanding, were not written off in the audited books of accounts, and were presumed to exist at the end of the relevant financial year. As the liabilities were not treated as bad debts or shown to have ceased to exist, the ITAT found no grounds to intervene with the Ld. CIT(A)'s findings. Consequently, the Revenue's appeal was dismissed. Case-Laws Income Tax Tue, 31 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307903