4 results for “section 68”+ Section 43(1)clear
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In the result, the appeal filed by the Revenue in ITA
Bench: SHRI INTURI RAMA RAO (Accountant Member), SHRI PARTHA SARATHI CHAUDHURY (Judicial Member)
section 41(1) have no application to the facts of the present case, inasmuch as, there is no cessation of liabilities in assessee’s liabilities are shown in the books of accounts. He further submits that there was nothing on record to say that there was cessation of liability during the previous year relevant to the assessment year under