2017 (1) TMI 1495

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....l, the appellant has assailed the judgment and order of the tribunal whereby tribunal has dismissed the appeal preferred by the appellant and confirmed the order of CIT(A). 2. This court while admitting the appeal on 13.9.2004 had framed following substantial question of law:- "Whether in the facts and circumstances of the case, the ITAT was justified in holding the expenditure as business expen....

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.... in view of the matter additions made by the tribunal for the relevant year would not be applicable in the changed circumstances. Since, they accepted the liability, the resolution which is sought to be passed on 28.8.1992 was administrative formality but for the Income-tax purpose it is shown in the books of account mercantile system, therefore, though the point raised by Mr. Singhi is remained a....