Court Rules No Cessation of Liability for Sundry Creditors u/s 41(1); Taxpayer's Debt Remains Ongoing.

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....Addition u/s 41(1) - no material has been brought on record to establish that the assessee’s liability with respect to Sundry Creditors ceased to exist, in any manner - the balance amount has been paid in subsequent years - nothing would suggest that there was remission or cessation of liability within the meaning of Sec. 41(1)....