Section 41(1) Update: No Additions to Income Tax Assessments Due to Unrecoverable Credit Balances and Untraceable Creditors.

Additions u/s 41(1) - credit balance of creditors - the amount still remained unrecoverable as the creditors were untraceable - In any event, it could not be said that the liability had ceased or that any advantage had been taken by the assessee on account of this - No additions - HC .....

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