https://www.taxtmi.com/caselaws?id=783431 ITAT Bangalore dismissed the assessee's appeal, upholding additions made by the AO under s. 41(1) and for unexplained expenditure. The Tribunal found that the assessee's own ledger reflected a reduction of trade liability towards a creditor by Rs. 1,97,48,195/-, with only Rs. 98 lakhs shown as outstanding, evidencing cessation of liability despite the assessee's denial of any waiver. No contrary documentary proof was produced. Further, the unexplained difference between purchases recorded in the stock register and in the profit and loss account remained unsubstantiated. ITAT therefore sustained the AO's and CIT(A)'s orders in full and rejected all grounds. en-us Thu, 11 Dec 2025 00:00:00 +0530 Mon, 15 Dec 2025 12:16:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783431 ITAT Bangalore dismissed the assessee's appeal, upholding additions made by the AO under s. 41(1) and for unexplained expenditure. The Tribunal found that the assessee's own ledger reflected a reduction of trade liability towards a creditor by Rs. 1,97,48,195/-, with only Rs. 98 lakhs shown as outstanding, evidencing cessation of liability despite the assessee's denial of any waiver. No contrary documentary proof was produced. Further, the unexplained difference between purchases recorded in the stock register and in the profit and loss account remained unsubstantiated. ITAT therefore sustained the AO's and CIT(A)'s orders in full and rejected all grounds. Case-Laws Income Tax Thu, 11 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783431