https://www.taxtmi.com/caselaws?id=282586 The ITAT Kolkata partly allowed the appeals of the assessee regarding the addition of bogus sundry creditors in AY 2000-01 and the set off in AY 2001-02. The ITAT held that the liabilities were existing in the books of accounts and not written off by the assessee, emphasizing the conditions under Sec. 41(1) of the Income-tax Act for invoking tax provisions related to recovered liabilities. The jurisdictional issue for initiating proceedings under Sec. 148 r.w.s. 147 was not pursued by the assessee's counsel and was dismissed without further discussion. en-us Fri, 14 Aug 2015 00:00:00 +0530 Wed, 14 Aug 2019 06:53:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282586 The ITAT Kolkata partly allowed the appeals of the assessee regarding the addition of bogus sundry creditors in AY 2000-01 and the set off in AY 2001-02. The ITAT held that the liabilities were existing in the books of accounts and not written off by the assessee, emphasizing the conditions under Sec. 41(1) of the Income-tax Act for invoking tax provisions related to recovered liabilities. The jurisdictional issue for initiating proceedings under Sec. 148 r.w.s. 147 was not pursued by the assessee's counsel and was dismissed without further discussion. Case-Laws Income Tax Fri, 14 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282586