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TMI Blog2024 (5) TMI 593X X X X Extracts X X X X X X X X Extracts X X X X ..... thorities impugned action invoking sec. 41(1) of the Act. Faced with this situation, we quote Sugauli Sugar Works [ 1999 (2) TMI 5 - SUPREME COURT] that the impugned addition does not get attracted merely because of lapse of long time or in absence of any actual cessation in assessee s books of account. Thus deem it as a fit case to delete the impugned addition in very terms. Assessee appeal allow ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... der passed by assessing officer (AO) and detail submission made by appellant. All the grounds of appellant considered together. The fact of the case is AO had made third party enquiry and gathered evidence and made additions of Rs. 14,37,096/- u/s 41(1) as cessation of trading liability of JK Enterprises towards appellant. However, appellant had said that he had no trading transaction with thi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... petition before civil court. However merely filing a petition before any court has no evidentiary value so long as court has not passed any order/made any final decision. The copy of petition is merely assertion of one party in exclusion of other party, and hence cannot be treated as factual evidence. The factual evidences gathered by AO through third party enquiry outweigh the assertion made in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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