Tax Appeal: Genuine Expenses Not Recorded; Tax Liability Advanced, Not Postponed; Additions Deleted by Commissioner of Income Tax (Appeals).

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....Genuineness of expenses - Liability accrued under development agreement was not provided for by the assessee in the books of account - As rightly concluded by the learned CIT(A), it was thus not a case of any postponement of tax liability by the assessee but was a case of preponement of tax liability. - Additions deleted - AT....