https://www.taxtmi.com/caselaws?id=285150 The Gujarat High Court upheld the ITAT's decision to delete the addition made by the Assessing Officer under Section 41(1) of the Income Tax Act for the Assessment Year 2007-08. The court found no substantial question of law and dismissed the Tax Appeal filed by the revenue. The ITAT ruled that the sundry creditors in question pertained to earlier years, and the revenue failed to establish any forgone debts by the creditors, leading to the deletion of the addition under Section 41(1). en-us Mon, 16 Sep 2013 00:00:00 +0530 Mon, 30 Dec 2019 15:35:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285150 The Gujarat High Court upheld the ITAT's decision to delete the addition made by the Assessing Officer under Section 41(1) of the Income Tax Act for the Assessment Year 2007-08. The court found no substantial question of law and dismissed the Tax Appeal filed by the revenue. The ITAT ruled that the sundry creditors in question pertained to earlier years, and the revenue failed to establish any forgone debts by the creditors, leading to the deletion of the addition under Section 41(1). Case-Laws Income Tax Mon, 16 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285150