https://www.taxtmi.com/caselaws?id=178022 The Tribunal upheld the deletion of additions made under section 41(1) for cessation of liability in the assessment year 2009-2010. The decision emphasized the requirement of actual cessation of liability for amounts to be considered as taxable income under the section. The Tribunal found that the amounts related to the parties in question did not meet this criterion, leading to the dismissal of both the Revenue's appeal and the assessee's cross objection. en-us Wed, 21 Aug 2013 00:00:00 +0530 Wed, 14 Dec 2016 12:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178022 The Tribunal upheld the deletion of additions made under section 41(1) for cessation of liability in the assessment year 2009-2010. The decision emphasized the requirement of actual cessation of liability for amounts to be considered as taxable income under the section. The Tribunal found that the amounts related to the parties in question did not meet this criterion, leading to the dismissal of both the Revenue's appeal and the assessee's cross objection. Case-Laws Income Tax Wed, 21 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178022