https://www.taxtmi.com/caselaws?id=755442 SC dismissed the revenue's SLP challenging the HC's decision under s. 41(1) of the Income-tax Act. The HC had held that the assessee discharged its onus by evidencing the subsistence of the liability at year-end, and that the AO failed to establish cessation or remission of liability, rendering s. 41(1) inapplicable. Before SC, there was an unexplained delay of 450 days in filing the SLP. SC declined to interfere, noting both the inordinate delay and absence of any substantial ground on merits, thereby affirming the HC's ruling in favour of the assessee. en-us Tue, 09 Jul 2024 00:00:00 +0530 Wed, 17 Dec 2025 10:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755442 SC dismissed the revenue's SLP challenging the HC's decision under s. 41(1) of the Income-tax Act. The HC had held that the assessee discharged its onus by evidencing the subsistence of the liability at year-end, and that the AO failed to establish cessation or remission of liability, rendering s. 41(1) inapplicable. Before SC, there was an unexplained delay of 450 days in filing the SLP. SC declined to interfere, noting both the inordinate delay and absence of any substantial ground on merits, thereby affirming the HC's ruling in favour of the assessee. Case-Laws Income Tax Tue, 09 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755442