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Section 41(1) of Income Tax Act: Unpaid Debts Over Time Don't Imply Liability Ceased or Remitted.

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Full Text of the Document

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....No addition u/s 41(1) can be made merely on the ground that the debts remained unpaid in the appellants’ books for a number of years and no presumption can be made that the said liability had ceased or had been remitted - AT....

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