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No cessation of liability u/s 41(1) if amount wasn't written off in books: Gujarat HC

July 24, 2018[2018] 96 82 (Gujarat)/[2018] 257 Taxman 100 (Gujarat)

IT : Where assessee had not closed its business permanently, rather, on account of stay from Court it could not run factory in year under consideration, depreciation could not be denied on account of closure of business

IT : Where assessee had not written of its liability in books of account, said liability could not be ceased under section 41(1)

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