#Section 41
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Income Tax
Income Tax
Making Chargeable to Tax U/s. 41(1) of Allowance/Deduction Already Made
Income Tax
Income Tax
Mere cessation of liability not results into fit case of sec. 41(1) of Income-tax Act
Income Tax
Income Tax
Cessation of loan liability taken for purchase of capital assets is capital receipt
Income Tax
Income Tax
Deferred tax can neither be taxed U/s. 41(1) nor U/s. 28(4) of Income Tax
Income Tax
Income Tax
S. 41(1) Merely because liabilities were outstanding for last many years, it cannot be said that said liabilities ceased to exist
Income Tax
Income Tax
Unclaimed Liabilities Not Taxable As Income Even If Creditors Not Traceable or Non-Genuine
Income Tax
Income Tax
Unclaimed liabilities Assessable As Income Despite No Write-Back on failure to prove genuineness
Income Tax
Income Tax
Liability Paid subsequently cannot be added to the income of the Assessee
Income Tax
Income Tax
No addition u/s 41(1) merely because some liabilities are outstanding at year end
Income Tax
Income Tax
Whether liability outstanding for several years amounts to cessation of liabilities on account of efflux of time?
Income Tax
Income Tax
No addition u/s 41(1) in respect of balance of creditors appearing in books of accounts at the end of relevant year
Income Tax
Income Tax
Section 41(1) applies to Unpaid dues, whose recovery is time barred
Income Tax
Income Tax
No addition U/s. 41(1) If assessee proves identity of creditors
Income Tax
Income Tax
Old Outstanding Creditors Cannot Be Taxed u/s 41(1) Without Proof of Liability Cessation
Explore the latest Section 41 updates on TaxGuru, including relevant Income-tax Act provisions, rules, notifications, circulars, judicial decisions and compliance guidance. The coverage highlights important tax positions, procedural requirements, assessments, deductions, penalties and litigation developments to help taxpayers and professionals understand the practical implications of changes in income-tax law.
