No Section 41(1) Addition Permissible Without Proof of Cessation of Liability

Jasmeet Singh Bhasin Vs DCIT (ITAT Raipur) The appeal before the ITAT Raipur arose from the order of the CIT(Appeals)/NFAC dated 26.11.2025 for Assessment Year 2023-24. None appeared on behalf of the assessee during hearing, though an adjournment petition was filed and rejected. The Tribunal proceeded to hear the matter after considering the submissions of the Senior Departmental Representative and the material available on record. The assessee, an individual, had filed a return declaring total income of Rs.85,07,030/-. During assessment proceedings, the assessee submitted bank statements, For...