https://www.taxtmi.com/caselaws?id=438107 The Tribunal partly allowed the appeals filed by both the Assessee and the Department for the assessment years 2007-08 and 2008-09. Various issues were remanded back to the CIT(A) and AO for further verification and compliance with legal precedents and procedural rules. Notably, the Tribunal held that the mere expiry of the limitation period does not justify invoking section 41(1) of the Act without evidence of cessation or remission of liability, leading to the deletion of specific additions except for one party, which was remanded for further verification. en-us Fri, 19 May 2023 00:00:00 +0530 Mon, 22 May 2023 15:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438107 The Tribunal partly allowed the appeals filed by both the Assessee and the Department for the assessment years 2007-08 and 2008-09. Various issues were remanded back to the CIT(A) and AO for further verification and compliance with legal precedents and procedural rules. Notably, the Tribunal held that the mere expiry of the limitation period does not justify invoking section 41(1) of the Act without evidence of cessation or remission of liability, leading to the deletion of specific additions except for one party, which was remanded for further verification. Case-Laws Income Tax Fri, 19 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438107