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2015 (3) TMI 807 - HC - Income TaxCessation or remission of the liability - tribunal deleted the addition made under Section 41(1) - Held that:- All the sundry creditors were shown in the return for the Assessment Year 2007-08 who were already shown as sundry creditors in the earlier Assessment Year 2006-07 and, therefore, as such, there was no remission or cessation of liability during the year under consideration and the Assessing Officer was not justified in making the addition under Section 41(1) of the Act. Thus relying upon the decision of this Court in the case of Commissioner of Income Tax Vs. Bhogilal Ramjibhai Atara (2014 (2) TMI 794 - GUJARAT HIGH COURT) when the learned tribunal has allowed the appeal and has deleted the addition of ₹ 31,82,258/- under Section 41(1) of the Act, it cannot be said that the learned tribunal has committed an error, which calls for the interference of this Court. - Decided against revenue.
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