https://www.taxtmi.com/highlights?id=66545 Addition u/s. 41(1) - bogus creditors - cessation of liability in case of outstanding of above sundry creditors - the given facts and circumstances suggests that the liability to pay the creditors had ceased to exist being bogus in nature as there is no real business concern selling/purchasing of goods and these are merely paper adjustment entry - additions confirmed - AT en-us Tue, 15 Nov 2022 09:16:48 +0530 Tue, 15 Nov 2022 09:16:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=66545 Addition u/s. 41(1) - bogus creditors - cessation of liability in case of outstanding of above sundry creditors - the given facts and circumstances suggests that the liability to pay the creditors had ceased to exist being bogus in nature as there is no real business concern selling/purchasing of goods and these are merely paper adjustment entry - additions confirmed - AT Highlights Income Tax Tue, 15 Nov 2022 09:16:48 +0530 https://www.taxtmi.com/highlights?id=66545