https://www.taxtmi.com/caselaws?id=118016 The Tribunal upheld the CIT(A)'s decision, affirming the addition under section 41(1) of the Income-tax Act. The appellant's accrued liability, neither paid nor claimed by legal heirs, was treated as income. Similarly, the amount received for a flat booking, unrefunded upon cancellation, was also considered income. The appellant failed to provide evidence of any refund claims, leading to the conclusion that the liabilities had ceased, thus constituting taxable income under section 41(1). en-us Fri, 30 Jul 2004 00:00:00 +0530 Tue, 11 Jun 2024 12:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118016 The Tribunal upheld the CIT(A)'s decision, affirming the addition under section 41(1) of the Income-tax Act. The appellant's accrued liability, neither paid nor claimed by legal heirs, was treated as income. Similarly, the amount received for a flat booking, unrefunded upon cancellation, was also considered income. The appellant failed to provide evidence of any refund claims, leading to the conclusion that the liabilities had ceased, thus constituting taxable income under section 41(1). Case-Laws Income Tax Fri, 30 Jul 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118016