https://www.taxtmi.com/highlights?id=53729 Cessation of liability u/s 41(1) - liability is being carried forward for years and the assessee is not able to completely prove the genuineness of the trading liability - since there is no evidence that there is a cessation of liability during the relevant A.Y, we hold that it cannot be brought to tax u/s 41(1) of the Act during the relevant A.Y. The addition is accordingly deleted en-us Wed, 17 Jun 2020 11:13:46 +0530 Wed, 17 Jun 2020 11:13:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=53729 Cessation of liability u/s 41(1) - liability is being carried forward for years and the assessee is not able to completely prove the genuineness of the trading liability - since there is no evidence that there is a cessation of liability during the relevant A.Y, we hold that it cannot be brought to tax u/s 41(1) of the Act during the relevant A.Y. The addition is accordingly deleted Highlights Income Tax Wed, 17 Jun 2020 11:13:46 +0530 https://www.taxtmi.com/highlights?id=53729