Merely because creditors were many years old & no interest been paid on loans, no addition can be made u/s. 41(1)

HIGH COURT OF GUJARAT Commissioner of Income-tax-II V/s. Nitin S. Garg TAX APPEAL NOS. 2428 & 2431 OF 2010 APRIL 11, 2012 JUDGMENT J.B. Pardiwala, J. – As common questions of fact and law arise in the above captioned batch of four appeals and the appeals are also preferred against a common order passed by Income Tax Tribunal, B Bench, Ahmedabad, the same were taken up for hearing together and are being disposed of by this common judgment and order. 2. These appeals under Section-260(A) of the Income Tax Act, 1961 are at the instance of the Revenue and are directed ag...