https://www.taxtmi.com/caselaws?id=330151 The High Court upheld the Tribunal's decision in a case challenging an order under section 260A of the Income Tax Act, 1961. The Court agreed that liabilities amounting to Rs. 81,60,350 had not ceased to exist as there was no evidence of remission or cessation during the relevant previous year. The Court found no substantial question of law warranting interference and dismissed the appeal, affirming the deletion of the addition under section 41(1) based on the lack of evidence supporting the liabilities ceasing to exist. en-us Tue, 15 Mar 2016 00:00:00 +0530 Tue, 19 Jul 2016 12:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330151 The High Court upheld the Tribunal's decision in a case challenging an order under section 260A of the Income Tax Act, 1961. The Court agreed that liabilities amounting to Rs. 81,60,350 had not ceased to exist as there was no evidence of remission or cessation during the relevant previous year. The Court found no substantial question of law warranting interference and dismissed the appeal, affirming the deletion of the addition under section 41(1) based on the lack of evidence supporting the liabilities ceasing to exist. Case-Laws Income Tax Tue, 15 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330151