https://www.taxtmi.com/caselaws?id=275450 The Tribunal partly allowed the Assessee's appeal, emphasizing the distinction between bogus liabilities and ceased trading liabilities under section 41(1) of the Income Tax Act, 1961. The Tribunal directed the deletion of the addition made by the Assessing Officer based on subsequent payments through banking channels, indicating the existence of the liabilities. en-us Fri, 22 Dec 2017 00:00:00 +0530 Thu, 04 Oct 2018 10:11:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275450 The Tribunal partly allowed the Assessee's appeal, emphasizing the distinction between bogus liabilities and ceased trading liabilities under section 41(1) of the Income Tax Act, 1961. The Tribunal directed the deletion of the addition made by the Assessing Officer based on subsequent payments through banking channels, indicating the existence of the liabilities. Case-Laws Income Tax Fri, 22 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275450