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Section 41 Additions Overruled: Liability Transfer to Partner Deemed Valid, Additions Deleted by Court Decision.

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Full Text of the Document

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....Addition u/s 41 - Cessation of liability - the liability has not ceased to exist in true sense in the given facts and circumstances as it has shifted to the partner of the firm who was always otherwise liable for such liability in his personal capacity being partner - Additions deleted.....