Case Law Details
Case Name : Income Tax Officer Vs. Shri Jagmohansingh G Dhiman (ITAT Ahmedabad)
Related Assessment Year : 2009- 10
Courts :
All ITAT ITAT Ahmedabad
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As per the provisions of section 41(1) addition can be made towards remission or cessation of liability, if the following conditions are fulfilled.
(i) In the assessment of an assessee, an allowance or deduction has been made in respect of any loss, expenditure or trading liability incurred by him
(ii) (a) Any amount is obtained in respect of such loss or expenditure, or
(b) Any benefit is obtained in respect of such trading liability by way of remission or cessation ther Please become a Premium member. If you are already a Premium member, login here to access the full content.
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