https://www.taxtmi.com/caselaws?id=395088 The Tribunal upheld the CIT(A)'s decision to delete the additions made by the AO under Section 41(1) of the Income Tax Act, 1961, for both the unpaid amounts to M/s Sky Gems and M/s AR Gems and the amount of Rs. 1,20,54,761/- written off in a subsequent year. The Tribunal emphasized the need for positive evidence of cessation of liability and found no basis for the additions in the current year. The appeal of the assessee was allowed. en-us Tue, 28 Apr 2020 00:00:00 +0530 Tue, 05 May 2020 08:21:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395088 The Tribunal upheld the CIT(A)'s decision to delete the additions made by the AO under Section 41(1) of the Income Tax Act, 1961, for both the unpaid amounts to M/s Sky Gems and M/s AR Gems and the amount of Rs. 1,20,54,761/- written off in a subsequent year. The Tribunal emphasized the need for positive evidence of cessation of liability and found no basis for the additions in the current year. The appeal of the assessee was allowed. Case-Laws Income Tax Tue, 28 Apr 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395088