https://www.taxtmi.com/caselaws?id=204712 The tribunal dismissed the revenue's appeal against the deletion of a portion of the addition made under section 41(1) of the Income Tax Act. It was held that the mere existence of outstanding liabilities for several years does not automatically imply cessation or remission. The revenue failed to prove any event of cessation or remission during the current year, nor did they demonstrate that the liabilities were considered in earlier financial accounts. Therefore, the deletion of the addition by the CIT(A) was upheld, and the revenue's appeal was dismissed. en-us Fri, 17 Jun 2011 00:00:00 +0530 Wed, 15 Jul 2026 13:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204712 The tribunal dismissed the revenue's appeal against the deletion of a portion of the addition made under section 41(1) of the Income Tax Act. It was held that the mere existence of outstanding liabilities for several years does not automatically imply cessation or remission. The revenue failed to prove any event of cessation or remission during the current year, nor did they demonstrate that the liabilities were considered in earlier financial accounts. Therefore, the deletion of the addition by the CIT(A) was upheld, and the revenue's appeal was dismissed. Case-Laws Income Tax Fri, 17 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204712