https://www.taxtmi.com/caselaws?id=784273 Whether an adjustment could be made while processing the return by treating a contingent liability as debited to the profit and loss account was the dominant issue. The Tribunal held that the appellate authority correctly found, on the tax audit report and accounts, that the amount represented unrealised interest on NPAs and was disclosed only in the balance sheet, not charged to the profit and loss account; the Revenue produced no evidence to rebut this factual finding. Consequently, the deletion of the adjustment/addition was upheld and the Revenue's appeal was dismissed. en-us Fri, 22 Aug 2025 00:00:00 +0530 Thu, 01 Jan 2026 08:18:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784273 Whether an adjustment could be made while processing the return by treating a contingent liability as debited to the profit and loss account was the dominant issue. The Tribunal held that the appellate authority correctly found, on the tax audit report and accounts, that the amount represented unrealised interest on NPAs and was disclosed only in the balance sheet, not charged to the profit and loss account; the Revenue produced no evidence to rebut this factual finding. Consequently, the deletion of the adjustment/addition was upheld and the Revenue's appeal was dismissed. Case-Laws Income Tax Fri, 22 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784273