https://www.taxtmi.com/caselaws?id=178027 The Tribunal allowed the appeal in part, ruling in favor of the assessee on both issues. The AO's estimated income was upheld due to lack of proper documentation, but the addition under Section 41(1) was overturned as the liability on sundry creditors had not ceased to exist. The judgment was pronounced on August 7, 2013. en-us Wed, 07 Aug 2013 00:00:00 +0530 Wed, 01 Mar 2017 11:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178027 The Tribunal allowed the appeal in part, ruling in favor of the assessee on both issues. The AO's estimated income was upheld due to lack of proper documentation, but the addition under Section 41(1) was overturned as the liability on sundry creditors had not ceased to exist. The judgment was pronounced on August 7, 2013. Case-Laws Income Tax Wed, 07 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178027