Taxpayer's Liability Ceased: Addition u/s 41(1) Justified for Timber Business Debts Over a Decade Old.

Addition u/s 41(1) - cessation of liability of Sundry Creditors of timber business which was closed more than 10 years back- non production of written confirmation from such trade creditors - concurrent finding of facts by all authority below - 'common sense principles' application - addition absolutely justified. .....

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