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Case decided.Where liabilities continue to exist and reflected in the assessee’s books of accounts, there is no basis to bring the same to tax u/s 41(1) of the Act.

Shanti Prime Publication Pvt. Ltd.

Sec. 41 of Income Tax Act, 1961—Deputy CIT vs. H.K. IMPEX.[2020] 24 ITCD Online 009 (ITAT-JAIPUR)

Case decided.Where liabilities continue to exist and reflected in the assessee’s books of accounts, there is no basis to bring the same to tax u/s 41(1) of the Act.

Shanti Prime Publication Pvt. Ltd.

Sec. 41 of Income Tax Act, 1961—Deputy CIT vs. H.K. IMPEX.[2020] 24 ITCD Online 009 (ITAT-JAIPUR)

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Case decided.Where liabilities continue to exist and reflected in the assessee’s books of accounts, there is no basis to bring the same to tax u/s 41(1) of the Act.

Case decided.Where liabilities continue to exist and reflected in the assessee’s books of accounts, there is no basis to bring the same to tax u/s 41(1) of the Act.

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