Section 41(1) Addition Not Permissible Solely Due to Lapse of Limitation Period: ITAT Mumbai

Ecokrin Hygiene Pvt. Ltd. Vs DCIT (ITAT Mumbai) Introduction: In the case of Ecokrin Hygiene Pvt. Ltd. vs. DCIT (ITAT Mumbai), the Income Tax Appellate Tribunal (ITAT) delivered a significant verdict regarding additions under section 41(1) of the Income Tax Act for the assessment year 2013-14. This article provides a detailed analysis of the case and the tribunal’s ruling. Detailed Analysis: Ecokrin Hygiene Pvt. Ltd., a private limited company engaged in trading hygiene and cleaning chemicals, contested additions made by the Assessing Officer (AO) during assessment. The AO disallowed bus...