https://www.taxtmi.com/highlights?id=23596 Addition made under Section 41(1) - creditors outstanding for more than three years in the books of respondent-assessee - The settled position in law is that showing the amount due to the creditors in the balance-sheet amounts to acknowledgment of liability - No additions - HC en-us Wed, 01 Jul 2015 08:23:03 +0530 Wed, 01 Jul 2015 08:23:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=23596 Addition made under Section 41(1) - creditors outstanding for more than three years in the books of respondent-assessee - The settled position in law is that showing the amount due to the creditors in the balance-sheet amounts to acknowledgment of liability - No additions - HC Highlights Income Tax Wed, 01 Jul 2015 08:23:03 +0530 https://www.taxtmi.com/highlights?id=23596