https://www.taxtmi.com/caselaws?id=420351 The Tribunal upheld the CIT(A)'s decision to delete the addition made to the assessee's income under section 41(1) of the Income Tax Act. The Tribunal found that since the assessee did not claim any expenditure or allowance related to the sundry creditors in question, the provision of section 41(1) could not be applied. The Revenue's appeal was dismissed, and the addition by the Assessing Officer was set aside. The Tribunal ruled in favor of the assessee on 02-12-2021. en-us Thu, 02 Dec 2021 00:00:00 +0530 Fri, 01 Apr 2022 08:32:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420351 The Tribunal upheld the CIT(A)'s decision to delete the addition made to the assessee's income under section 41(1) of the Income Tax Act. The Tribunal found that since the assessee did not claim any expenditure or allowance related to the sundry creditors in question, the provision of section 41(1) could not be applied. The Revenue's appeal was dismissed, and the addition by the Assessing Officer was set aside. The Tribunal ruled in favor of the assessee on 02-12-2021. Case-Laws Income Tax Thu, 02 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420351