TMI BlogCessation of liability u/s 41(1) - liability is being carried forward for years and the assessee is not...Cessation of liability u/s 41(1) - liability is being carried forward for years and the assessee is not able to completely prove the genuineness of the trading liability - since there is no evidence that there is a cessation of liability during the relevant A.Y, we hold that it cannot be brought to tax u/s 41(1) of the Act during the relevant A.Y. The addition is accordingly deleted ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
