Poona Bottling Compnay Pvt. Ltd., Pune vs. Assistant Commissioner of Income-Tax, Pune
In the result, the appeal of the assessee is allowed
ITA 1484/PUN/2016[2007-08]Status: DisposedITAT Pune21 Jan 2019AY 2007-08
Bench: Ms. Sushma Chowla, Jm & Shri D. Karunakara Rao, Am आयकर अपील सं आयकर अपील सं. / Ita No.1484/Pun/2016 आयकर अपील सं आयकर अपील सं िनधा"रण वष" / Assessment Year : 2007-08 िनधा"रण वष" िनधा"रण वष" िनधा"रण वष"
For Appellant: Shri Nitesh Joshi & Shri P.P. BhandariFor Respondent: Shri Sanjeev Ghei
Section 143Section 41Section 41(1)
…when the cessation of liabilities did not take place in books, is unsustainable. In this regard, Ld. Counsel for the assessee brought our attention to the conclusions of various judgments/orders which reads as under: 1) ITO Vs. Marcopolo Products (P.) Ltd., 159 ITD 266: “Even where amount remained unclaimed by sundry creditors for a considerable period of time and liability was carried forward for many years without remission or cessation till date, said amount could not be added to income.” 2) Pr. CIT Vs. Matruprasad C. Pandey, 377 ITR 363 “Held, that the sundry creditors mentioned in the balance sheet of the…
