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2015 (1) TMI 1433 - AT - Income TaxCessation of the liability - shown in parts by the assessee and not bringing the whole amount in to the net of taxation under section 41(1) - HELD THAT:- A perusal of the assessment order clearly shows that the assessee has shown the liability of ₹ 27,10,883/- as a liability in its accounts. The amount of ₹ 33,37,011/- clearly is the balance as on 01.04.2006. This is not an amount received by the assessee during the relevant assessment year. A perusal of the modification to the agreement dated 02.04.2001 vide letter dated 18.12.2006 clearly shows that M/s. Rudgormach, Russia has categorically directed the assessee to adjust the necessary expenses required for the marketing, promotional and liasioning work including commission on behalf of M/s. Rudgormach against the outstanding lying with the account. This clearly shows that there is no cessation of liability. In the present case, the amount has any way not been written off. It remains as a liability in the books of the assessee. In these circumstances, we are of the view that the finding of the ld. CIT(Appeals) is on right footing and does not call for any interference. - Decided against revenue
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