TMI Blog2019 (2) TMI 1724X X X X Extracts X X X X X X X X Extracts X X X X ..... TMI 5 - SUPREME COURT] to hold that the mere fact of a liability having continued to be shown for very many years would not attract section 41(1) since it is for the Assessing Officer has who has to show that concerned assessee has drawn any benefit by way of cessation or remission thereof. We further make it clear that CIT(A) s above extracted detailed discussion has examined all the facts as well as the relevant legal position at length which has nowhere been rebutted from the Revenue side. We therefore conclude that the CIT(A) has rightly reversed the assessment findings holding the amount in question to be a case of cessation of liability u/s 41(1) - Decided in favour of assessee. - ITA No.05/Ran/2017 Assessment Year :2013-14 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... remission / cessation of liability involving the amount of ₹ 12,97,47,322/-. The instant proceedings appear to be second round of litigation between the parties qua the very issue before this tribunal. Earlier coordinate bench had remitted the instant issue back to the assessing authorities for afresh adjudication (supra). 4. The Assessing Officer took up consequential proceedings. There is no dispute about the assessee to have been carrying forward the impugned liability in its books for a time span of almost three decades. It is an admitted fact that the department did not raise any issue in all intervening assessment years in question. It emerges that Assessing Officer had issued summons to six directors of the concerne ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment from the taxpayer s side for a very long period of time as per the Assessing Officer. He was therefore of the view that neither the creditors in question had taken any steps to recover their respective dues nor the instant taxpayer had discharged even a single penny of the impugned liability. All this formed sufficient reason for him to opine that the assessee had no intention to pay that money in question. He alleged creditors non confirmation as well as lack of their identity in his assessment order based on an assumption that they had either vanished or there was no effort at their behest to claim this liability sum. The Assessing Officer was further of the opinion that hon'ble Delhi high court s decision in CIT vs. Chipsoft Tec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... involving the sum of ₹ 12,87,24,079/-; respectively. 7. Case file further suggests that the impugned liability claim has nowhere been doubted in preceding or succeeding assessment years involving regular assessment at least in assessment years 1998-99, 2000-01, 2003-04 and 2004-05. The CIT(A) s clinching findings that four directors of corresponding entities have been appointed in financial year 2001-02 only whereas the impugned liability dates back to almost 30 years; have gone unrebutted from the Revenue side. We therefore do not see any merit in Revenue s above twin submissions. Its former plea that the impugned liability is not genuine at this belated stage carries no weight. Hon'ble Karnataka high court s decision ..... X X X X Extracts X X X X X X X X Extracts X X X X
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