Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2024 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2024 (5) TMI 593 - ITAT PUNEAddition u/s 41(1) - cessation of liability - HELD THAT:- DR failed to pinpoint any specific material in assessee’s books of account in support of the learned lower authorities impugned action invoking sec. 41(1) of the Act. Faced with this situation, we quote Sugauli Sugar Works [1999 (2) TMI 5 - SUPREME COURT] that the impugned addition does not get attracted merely because of lapse of long time or in absence of any actual cessation in assessee’s books of account. Thus deem it as a fit case to delete the impugned addition in very terms. Assessee appeal allowed.
|