2026 (6) TMI 469

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....tion filed) For the Revenue : Shri Raghunath, CIT-DR ORDER PER PARTHA SARATHI CHAUDHURY, JM: The present appeal preferred by the Revenue emanates from the order of the Ld.Addl/JCIT(A), Ranchi dated 29.01.2026 for the assessment year 2024-25 as per the grounds of appeal on record. 2. At the time of hearing none appeared for the assessee. However, an adjournment petition has been file....

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....ring the fact that the impugned contingent liability of Rs. 7,00,00,000/- has not been debited in profit and loss account but only mentioned in 3CD report, hence, no addition is called for. 4. The Ld. CIT(Appeals)/NFAC observed that the CPC, Bangalore made addition of Rs. 7,00,00,000/- based on information provided in the tax audit report (Form 3CD) regarding a contingent liability. The First A....