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2018 (6) TMI 1506 - ITAT KOLKATAAddition u/s 41(1) - Held that:- No other alternative but to delete the addition for the reason that there is neither remission or cessation of liabilities in this case. Merely because evidence of repayment of sundry creditors is not produced, an addition u/s 41(1) cannot be made. CIT(A) has not followed the basic proposition of law laid down by the Court on application of Section 41(1) - delete the disallowance and allow the ground of the assessee.
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