https://www.taxtmi.com/caselaws?id=284212 Section 41(1) applies only where the Revenue proves actual cessation or remission of liability in law, or a corresponding benefit to the assessee. Mere non-confirmation of sundry creditors, directors' ignorance of transactions, or the fact that a liability remained outstanding for many years was held insufficient. As the liability had been consistently reflected in the books and no legally effective remission or cessation was shown, the addition was deleted. en-us Fri, 15 Feb 2019 00:00:00 +0530 Thu, 07 Nov 2019 06:16:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284212 Section 41(1) applies only where the Revenue proves actual cessation or remission of liability in law, or a corresponding benefit to the assessee. Mere non-confirmation of sundry creditors, directors' ignorance of transactions, or the fact that a liability remained outstanding for many years was held insufficient. As the liability had been consistently reflected in the books and no legally effective remission or cessation was shown, the addition was deleted. Case-Laws Income Tax Fri, 15 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284212