https://www.taxtmi.com/caselaws?id=282534 The Tribunal upheld the deletion of an addition under section 41(1) for the assessment year 2005-06, dismissing the Department's appeal. The Assessing Officer added Rs. 10,56,750 due to the alleged cessation of liability, but the ld. CIT(A) overturned this decision. The Commissioner emphasized the consistent presence of the liability in the Balance-sheet and the lack of evidence for payment or cessation. The Tribunal agreed, stating that the absence of the creditor's address did not prove liability cessation, ultimately supporting the deletion of the added amount. en-us Mon, 31 Jan 2011 00:00:00 +0530 Tue, 13 Aug 2019 10:37:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282534 The Tribunal upheld the deletion of an addition under section 41(1) for the assessment year 2005-06, dismissing the Department's appeal. The Assessing Officer added Rs. 10,56,750 due to the alleged cessation of liability, but the ld. CIT(A) overturned this decision. The Commissioner emphasized the consistent presence of the liability in the Balance-sheet and the lack of evidence for payment or cessation. The Tribunal agreed, stating that the absence of the creditor's address did not prove liability cessation, ultimately supporting the deletion of the added amount. Case-Laws Income Tax Mon, 31 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282534