IT: Where assessee in return of income for assessment year 2007-08 - TopicsExpress

IT: Where assessee in return of income for assessment year 2007-08 had shown certain amount by way of his debts and Assessing Officer applying provisions of section 41(1) added back said amount in income of assessee as deemed income, since there was nothing on record to suggest that there was remission or cessation of liability that too during assessment year 2007-08, above amount could not be added back in income of assessee [2014] 43 taxmann 55 (Gujarat) HIGH COURT OF GUJARAT Commissioner of Income-tax -III v. Bhogilal Ramjibhai Atara

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