Provisions of Sec. 41(1) can’t be invoked if no deduction has been claimed by assessee in earlier years: ITAT

INCOME TAX : Where assessee had received certain amount as advance against sale of property from a company vide MoU said MoU was cancelled and in year 2008 and assessee started repaying earnest money as per MoU from year 2010-11 and balance was payable by assessee but, for assessment year 2015-16, Assessing Officer observed that as said liability was not paid for more than a decade, said liability ceased to exist and accordingly, he sought to add same as income of assessee in terms of section 41

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