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Case Law Details

Case Name : ACIT Vs Gopal Fabrics (ITAT Ahmedabad)
Related Assessment Year :
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CA Sandeep Kanoi

Issue – The only ground taken by revenue in this appeal relates to deleting the addition of Rs. 17,91,334/- on account of cessation of liability u/s. 41(1) of the Act.
Contention of the Assessing Officer – The AO while making this addition has observed as under:-

“4.1 For the year under consideration in the balance sheet an amount of Rs. 17,91,334/- is appearing as sundry creditors

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