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Commissioner of Income Tax-VI Versus Devendrasingh Delsingh Bhagtana

2015 (3) TMI 807 - GUJARAT HIGH COURT

Cessation or remission of the liability - tribunal deleted the addition made under Section 41(1) - Held that:- All the sundry creditors were shown in the return for the Assessment Year 2007-08 who were already shown as sundry creditors in the earlier Assessment Year 2006-07 and, therefore, as such, there was no remission or cessation of liability during the year under consideration and the Assessing Officer was not justified in making the addition under Section 41(1) of the Act.

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ora,JJ. For the Appellant : Mrs Mauna M Bhatt, Adv. For the Respondent : None ORDER (Per : Honourable Mr. Justice M. R. Shah) (1.0) Feeling aggrieved and dissatisfied with the impugned judgment and order passed by the learned Income Tax Appellate Tribunal, Ahmedabad (hereinafter referred to as the tribunal ) dated 20/06/2014 in ITA No.35/Ahd/2011 for the Assessment Year 2007-08 by which the learned tribunal has allowed the said Appeal preferred by the assessee and has deleted the addition of  .....

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the total income of ₹ 1,93,000/-. The said return was processed under Section 143(1) of the Act and the same was selected for scrutiny by issuance of notice under Section 143(2) of the Act. Thereafter, notice under Section 142(1) of the Act alongwith the questionnaire was issued to the assessee on 02/07/2009, which was also duly served upon the assessee. (2.1) During the course of the assessment proceedings, on verification of the books of accounts and the details submitted by the assesse .....

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o the total income of the assessee treating the same as bogus liability and cessation of liabilities under Section 41(1) of the Act. (2.2) It appears that to verify the genuineness of the sundry creditors, further information under Section 133(6) of the Act was called for from the creditors shown by the assessee for confirmation by sending letters by speed post and the same were received back unserved by postal authorities except Aman Road Lines and, therefore, the assessee was called upon to sh .....

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under Section 68 of the Act. Thus, the Assessing Officer made the total addition of ₹ 49,98,197/- and assessed the total income at ₹ 51,24,197/-. (2.3) Feeling aggrieved and dissatisfied with the aforesaid addition, the Assessing Officer preferred appeal before the learned CIT(A) and the learned CIT(A) dismissed the said appeal confirming the additions made by the Assessing Officer. (2.4) Feeling aggrieved and dissatisfied with the order passed by the learned CIT(A) confirming the a .....

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