https://www.taxtmi.com/caselaws?id=183059 The High Court held that the trade liability could be added to the appellant's total income under Section 41(1) of the Income Tax Act, 1961, as M/s Tirupati Steels, the creditor, was found to be non-existent at the provided address. The appellant's failure to prove the liability's genuineness led to the addition under Section 41(1). The Court found no substantial legal question, allowing the assessing authority to verify the discharge of the liability. The appeal was dismissed for lacking merit. en-us Tue, 11 Dec 2012 00:00:00 +0530 Wed, 09 May 2018 10:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183059 The High Court held that the trade liability could be added to the appellant's total income under Section 41(1) of the Income Tax Act, 1961, as M/s Tirupati Steels, the creditor, was found to be non-existent at the provided address. The appellant's failure to prove the liability's genuineness led to the addition under Section 41(1). The Court found no substantial legal question, allowing the assessing authority to verify the discharge of the liability. The appeal was dismissed for lacking merit. Case-Laws Income Tax Tue, 11 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183059