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2017 (2) TMI 734 - HC - Income TaxAddition u/s 41 - Demand Drafts and Pay Orders payable as on the last date of the Financial Year, which were not so far encashed by the concerned customers - Held that:- Addition cannot be made under Section 41(1) of the Act, since the liability of the assessee Bank to pay back the amounts to the customers in respect of such stale Demand Drafts and Pay Orders does not cease in law. See The Commissioner of Income Tax, Asst. Commissioner of Income Tax Versus Karnataka Vikas Grameen Bank [2015 (12) TMI 1420 - KARNATAKA HIGH COURT - Decided in favour of assessee
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