2015 (9) TMI 1661

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..... Sr. DR ORDER This appeal by assessee is arising out of order of CIT(A), Kolkata in appeal no. 156/CIT(A)-XX/Wd-35(4)/2009-10/Kol dated 31-01-2014. Assessment was framed by ITO, Ward 35(4), Kolkata for assessment year 2007-08 u/s 143(3) of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') vide his order dated 30-11-2009. 2. The only issue raised by the assessee is against t....

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....) of the Act were issued by the AO. In all the cases the notices received back unserved with the postal remark 'not known' except in the case of Narayan Chandra Gorai, he confirmed Nil balance in the name of the assessee. The assessee was asked to give present whereabouts of the creditors or to produce them for verification but even after allowing opportunity to the assessee to get verified the sa....

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.... sundry creditors shown by the appellant, notices/letters u/s. 133(6) were issued by the AO. The AO found that in other cases, the notices received back un-served with the postal remarks 'Not Known', in the case of Narayan Chandra Gorai, he confirmed Nil balance in the name of the appellant. The appellant was asked to give present whereabouts of those creditors or to produce them for verification,....

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....lso find from the record that the assessee has not written-off the liability or liability has not ceased or remitted. In such circumstances, now I have to go to the provisions of section 41(1) of the Act and see the legal position. Section 41 (1) of the Act would apply in a case where there has been remission or cessation of liability during the year under consideration subject to the conditions c....