Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2012 (12) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2012 (12) TMI 1085 - HC - Income TaxRemission or cessation of the trade liability standing - addition u/s 41 - Held that:- It is based on factual matrix of the matter and the liability in the end of the year if not proved can certainly be added u/s 41(1) of the Act but it is still left open for the assessing authority to examine and opportunity is available before the assessing authority to produce the creditor and if unable to give the exact address, it will be open for the assessing authority to add back the same as per law. We do not find any substantial question of law arises in the facts & circumstances of the case which may require any consideration.
|