Liability Written Back Already Taxed – Double Taxation Unsustainable – ITAT Kolkata Deletes 41(1) Addition

Saha Textile Vs DCIT (ITAT Kolkata) Liability Written Back Already Taxed – Double Taxation Unsustainable – ITAT Kolkata Deletes 41(1) Addition Kolkata ITAT allowed assessee’s appeal by deleting addition of ₹8.74 lakh made u/s 41(1), holding that the liability written back was already offered to tax by assessee in its return, & CPC’s adjustment amounted to double taxation. Assessee filed return on 31.10.2022, processed u/s 143(1) on 08.03.2023. CPC added ₹8,74,412/- as deemed income u/s 41(1), based on tax audit report (Para 25), which showed cessation of liability. AO &...