https://www.taxtmi.com/highlights?id=70031 Addition u/s 41(1) - Cessation of liability for sundry creditors - assessee failed to prove the credit balance of these two parties - Assessee has duly acknowledged its debt and has not done anything to write off its liability as cessation thereof - Assessment of the assessee has been completed u/s 143(3) by the same incumbent AO for AY 2012-13 wherein these balances of the two creditors continuing from AY 2010-11 had been accepted and no additions made thereon - additions deleted - AT en-us Tue, 30 May 2023 10:15:16 +0530 Tue, 30 May 2023 10:15:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=70031 Addition u/s 41(1) - Cessation of liability for sundry creditors - assessee failed to prove the credit balance of these two parties - Assessee has duly acknowledged its debt and has not done anything to write off its liability as cessation thereof - Assessment of the assessee has been completed u/s 143(3) by the same incumbent AO for AY 2012-13 wherein these balances of the two creditors continuing from AY 2010-11 had been accepted and no additions made thereon - additions deleted - AT Highlights Income Tax Tue, 30 May 2023 10:15:16 +0530 https://www.taxtmi.com/highlights?id=70031