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2022 (6) TMI 28 - HC - Income TaxAddition u/s 41(1) - non-confirmation of credit by the creditors - HELD THAT:- It goes uncontroverted that the appellant has not been able to lead any evidence to prove the existence of liability. The creditors could not verify the liability of the appellant as projected by him. The existence of liability is purely a matter of fact. Proposition of law is well settled that where a party is expected to be in possession of evidence but fails to produce the same, an adverse inference has to be drawn. See R. Venkata Swamy Naidu.[1956 (2) TMI 3 - SUPREME COURT] - No substantial question of law - Decided against assessee.
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