Dismissing the appeal of the revenue the Court held that, when there was no writing off of liabilities and only the sub-head, under which, the liability was shown in the account books of the assessee was changed, there could be no cessation of liability. When the assessee-company was liable to pay and it continued to remain liable even after change of entries in the books of account, no benefit would accrue to the assessee-company merely on account of change of nomenclature and consequently the question of treating it as profit and gain would not arise. (AY. 2001-02 )