https://www.taxtmi.com/caselaws?id=342988 The Tribunal allowed the appeal of the assessee, directing the AO to delete the additions made under Sections 41(1) and 28(iv) of the Income Tax Act, 1961. The Tribunal emphasized that outstanding balances do not automatically indicate a cessation of liability and clarified that Section 28(iv) does not pertain to monetary transactions. en-us Thu, 11 May 2017 00:00:00 +0530 Wed, 17 May 2017 07:18:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342988 The Tribunal allowed the appeal of the assessee, directing the AO to delete the additions made under Sections 41(1) and 28(iv) of the Income Tax Act, 1961. The Tribunal emphasized that outstanding balances do not automatically indicate a cessation of liability and clarified that Section 28(iv) does not pertain to monetary transactions. Case-Laws Income Tax Thu, 11 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342988