Sec. 41(1) can’t be invoked for liability against purchase of defective machinery that was never put to use

Marvelore Mining & Allied Industries Pvt. Ltd. Vs ITO (ITAT Surat) Sec. 41(1) can’t be invoked for liability against purchase of defective machinery that was never put to use: Marvelore Mining & Allied Industries (P.) Ltd. v. ITO – [2023] (Surat-Trib.)  Assessee was a private limited company. It was engaged in the business of Calcium Carbonate powder and trading of Calcium Bauxite. The assessee has filed its return of income for the Assessment Year 2016-17 declaring total income of Rs. Nil. During the scrutiny assessment, the Assessing Officer (AO) noted outstanding sundry cre...