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Case Law Details

Case Name : CIT Vs. Sita Devi Juneja (Punjab & Haryana High Court)
Appeal Number : ITA No. 619 of 2009
Date of Judgement/Order : 02/12/2009
Related Assessment Year :
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RELEVANT PARAGRAPH

After hearing learned counsel for the appellant and going through the mpugned order, we do not find any merit in the instant appeal. It is the conceded position that in the assessee’s balance sheet, the aforesaid liabilities have been shown, which are payable to the sundry creditors. Such liabilities, shown in the balance sheet, indicate the acknowledgment of the debts payable by the assessee. Merely because such liability is outstanding

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