https://www.taxtmi.com/caselaws?id=766492 A provision released in a later year was held not taxable as income where the provision had been created in an earlier year and had not been claimed as a deduction then; its credit to profit and loss account merely reflected reversal of a balance-sheet item. A blanket 5% disallowance of other expenditure was also deleted because the assessee produced ledger extracts and sample vouchers, the books were audited, and no specific defect in the accounts or supporting evidence was identified to justify an ad hoc reduction. The appeal therefore succeeded and the additions were deleted. en-us Mon, 24 Feb 2025 00:00:00 +0530 Wed, 26 Feb 2025 08:17:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766492 A provision released in a later year was held not taxable as income where the provision had been created in an earlier year and had not been claimed as a deduction then; its credit to profit and loss account merely reflected reversal of a balance-sheet item. A blanket 5% disallowance of other expenditure was also deleted because the assessee produced ledger extracts and sample vouchers, the books were audited, and no specific defect in the accounts or supporting evidence was identified to justify an ad hoc reduction. The appeal therefore succeeded and the additions were deleted. Case-Laws Income Tax Mon, 24 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766492