TMI BlogAddition made under Section 41(1) - creditors outstanding for more than three years in the books of...Addition made under Section 41(1) - creditors outstanding for more than three years in the books of respondent-assessee - The settled position in law is that showing the amount due to the creditors in the balance-sheet amounts to acknowledgment of liability - No additions - HC ..... X X X X Extracts X X X X X X X X Extracts X X X X
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