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2019 (2) TMI 1263 - AT - Income TaxAddition u/s 41(1) on cessation of liability - addition in respect of sundry creditors - HELD THAT:- There was no dispute in respect of the liability of ₹ 1,37,860/- shown against M/s. S. I. International Ltd., and the amount is offered to tax as cessation of liability u/s 41(1) of the Act. In these circumstances, the finding rendered in impugned order of the learned CIT(A) on this issue in respect of ₹ 1,37,860/- is upheld and to this extent the assessee’s appeal is dismissed. For the other sundry creditor, the addition u/s 41(1) of the Act on account of cessation of liability is to be sustained only to the extent of ₹ 2,54,550/- and I hold and direct accordingly. - Decided partly in favour of assessee
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