Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
Addition u/s. 41(1) - bogus creditors - cessation of liability in case of outstanding of above sundry creditors - the given facts and circumstances suggests that the liability to pay the creditors had ceased to exist being bogus in nature as there is no real business concern selling/purchasing of goods and these are merely paper adjustment entry - additions confirmed - AT
Addition u/s. 41(1) - bogus creditors - cessation of liability in case of outstanding of above sundry creditors - the given facts and circumstances suggests that the liability to pay the creditors had ceased to exist being bogus in nature as there is no real business concern selling/purchasing of goods and these are merely paper adjustment entry - additions confirmed - AT
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