Court Confirms Liability Cessation u/s 41(1) for Assessee Avoiding Tax by Misreporting Interest Liability.

Addition u/s. 41(1) - cessation of liability - assessee had continuously avoided the payment of tax by showing the said interest liability as payable, whereas the creditor AOP had not shown it as its ‘income’ because of the different accounting methods, that too, so managed by the assessee - additions confirmed - AT .....

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