INCOME TAX OFFICER, WARD-3(4), GUWAHATI vs. SINU SONTHALIA, GUWAHATI

In the result, the appeal of the revenue is partly allowed

section 41(1) of the Act needs to be invoked and creditors/credit liabilities should be treated as income chargeable to tax. 14. In view of our above observations let us examine the alleged sundry creditors. As far as addition of Rs. 93,89,186/- in name Mr. Alok Sonthalia (husband of the assessee) is concerned, we find that Mr. Alok

D.C.I.T., CIRCLE-1, DIBRUGARH vs. MADAN LAL BAMALWA, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed