https://www.taxtmi.com/caselaws?id=441245 The Tribunal directed the Assessing Officer to delete the impugned addition of Rs. 33,48,570 as waiver of loan does not amount to cessation of trading liability under section 41(1) of the Income Tax Act, allowing the appeal of the assessee for the assessment year 2002-03. en-us Wed, 02 Aug 2023 00:00:00 +0530 Thu, 03 Aug 2023 16:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441245 The Tribunal directed the Assessing Officer to delete the impugned addition of Rs. 33,48,570 as waiver of loan does not amount to cessation of trading liability under section 41(1) of the Income Tax Act, allowing the appeal of the assessee for the assessment year 2002-03. Case-Laws Income Tax Wed, 02 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441245