Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2010 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2010 (6) TMI 592 - AT - Income TaxNon-availability of Creditors - The authorities had brought to tax in respect of Non-available 2 creditors of designing and printing, which remained outstanding at the end of this year also. - Held that:- the liability has not been written off in the accounts of the assessee. In such circumstances, non-availability of the creditor and lack of any correspondence with them does not obliterate the debt, as the assessee continues to show the same in its books of account. Thus, the provision contained in section 41(1) is not applicable. Decided in the favour of Assesee.
|