https://www.taxtmi.com/caselaws?id=271370 The ITAT upheld the CIT(A)'s decision to delete the addition of Rs. 81,60,350 for cessation of liability under section 41(1) of the Act, as the assessee failed to prove remission or cessation of liability. Additionally, the ITAT confirmed the CIT(A)'s decision to delete the Rs. 14,490 addition for unaccounted sale of shares, attributing the discrepancy to stock exchange practices. The revenue's appeal was dismissed, affirming the CIT(A)'s rulings on both issues. en-us Thu, 14 May 2015 00:00:00 +0530 Tue, 02 Feb 2016 20:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271370 The ITAT upheld the CIT(A)'s decision to delete the addition of Rs. 81,60,350 for cessation of liability under section 41(1) of the Act, as the assessee failed to prove remission or cessation of liability. Additionally, the ITAT confirmed the CIT(A)'s decision to delete the Rs. 14,490 addition for unaccounted sale of shares, attributing the discrepancy to stock exchange practices. The revenue's appeal was dismissed, affirming the CIT(A)'s rulings on both issues. Case-Laws Income Tax Thu, 14 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271370