https://www.taxtmi.com/caselaws?id=362679 The Tribunal ruled in favor of the appellant, finding that the additions made under Section 41(1) of the Income Tax Act for sundry creditors and a sum payable to an individual were not justified. The Tribunal emphasized the legal requirement of evidence for remission or cessation of liabilities, citing relevant case law. It held that the lack of proof of repayment did not warrant the additions. As a result, the Tribunal directed the deletion of the additions, allowing the appellant's appeal. en-us Wed, 27 Jun 2018 00:00:00 +0530 Sat, 30 Jun 2018 16:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362679 The Tribunal ruled in favor of the appellant, finding that the additions made under Section 41(1) of the Income Tax Act for sundry creditors and a sum payable to an individual were not justified. The Tribunal emphasized the legal requirement of evidence for remission or cessation of liabilities, citing relevant case law. It held that the lack of proof of repayment did not warrant the additions. As a result, the Tribunal directed the deletion of the additions, allowing the appellant's appeal. Case-Laws Income Tax Wed, 27 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362679