Cessation of Liabilities- Liabilities reflected in balance sheet cannot be treated as cessation of liabilities

ITAT, `B’ BENCH – AHMEDABAD Nitin S. Garg Vs. ACIT , APPEAL NO: ITA Nos. 169, 170, 171 and 172/Ahd/2009,  DECIDED ON June 4, 2010 ORDER PER BHAVNESH SAINI, JM: All the appeals by the assessee are directed against different orders of the learned CIT (A)-II, Ahmedabad dated 01-10-2009 for the above assessment years. 2. In ITA No. 172/Ahd/2009 for assessment year 2006-07, the learned Counsel for the assessee did not press Ground Nos. 4, 5 and 6, these grounds are accordingly dismissed being not pressed. 3. In all the appeals the assessee challenged the orders of the lea...