Unexplained expenditure u/s. 69C and Addition under s. 41(1) on the ground that there was remission or cessation of liability

Unexplained expenditure u/s. 69C :- Sec. 69C refers to the ‘source of the expenditure’ and not to the expenditure itself; further, in the absence of any material found during the search, addition of expenditure would not be justified in the block assessment.

Addition under s. 41(1) on the ground that there was remission or cessation of liability:- Addition in terms of s. 41(1) cannot be made in block assessment where no material was found during search to show that the liability was either bogus or had ceased to ex

Please become a Premium member. If you are already a Premium member, login here to access the full content.