{"id":52464,"date":"2025-03-31T12:35:06","date_gmt":"2025-03-31T07:05:06","guid":{"rendered":"https:\/\/itatonline.org\/digest\/maideen-pitchai-rawther-peer-mohammed-v-acit-2024116-itr-71-snchennaitrib\/"},"modified":"2025-03-31T12:35:06","modified_gmt":"2025-03-31T07:05:06","slug":"maideen-pitchai-rawther-peer-mohammed-v-acit-2024116-itr-71-snchennaitrib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/maideen-pitchai-rawther-peer-mohammed-v-acit-2024116-itr-71-snchennaitrib\/","title":{"rendered":"Maideen Pitchai Rawther Peer Mohammed v. ACIT (2024)116 ITR 71 (SN)(Chennai)(Trib)"},"content":{"rendered":"<p>Held that\u00a0 when the person from whom the amount was borrowed, had written off the amount in his accounts, the liability ceased to exist. As there is\u00a0 cessation of liability, the same could not be part of the assessee\u2019s sundry creditors. Therefore, the addition made under section\u00a041(1)\u00a0as cessation of liability is\u00a0 justified. AY.2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability-Goods purchased from brother-Writing off dues as personal help-Liability ceasing to exist on  written off by creditor in his books-Addition  is justified.  <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-52464","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-dEc","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/52464","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=52464"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/52464\/revisions"}],"predecessor-version":[{"id":52465,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/52464\/revisions\/52465"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=52464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=52464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=52464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}