https://www.taxtmi.com/caselaws?id=766026 The Appellate Tribunal allowed the assessee's appeal, directing the deletion of additions made by the AO under sections 41(1) and 69 of the Income Tax Act for the assessment year 2015-16. The Tribunal found that the liability under section 41(1) was disclosed in the books without cessation, and the investment under section 69 was properly recorded as a fixed asset. Consequently, both additions were deemed unjustified, leading to the Tribunal's decision to overturn the AO's determinations and fully favor the assessee. en-us Fri, 17 Jan 2025 00:00:00 +0530 Fri, 14 Feb 2025 14:45:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766026 The Appellate Tribunal allowed the assessee's appeal, directing the deletion of additions made by the AO under sections 41(1) and 69 of the Income Tax Act for the assessment year 2015-16. The Tribunal found that the liability under section 41(1) was disclosed in the books without cessation, and the investment under section 69 was properly recorded as a fixed asset. Consequently, both additions were deemed unjustified, leading to the Tribunal's decision to overturn the AO's determinations and fully favor the assessee. Case-Laws Income Tax Fri, 17 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766026