#Section 41
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162 articlesIncome Tax
Income Tax
Parameters on cessation of liability to be taxed u/s 41(1) of Income Tax Act
Income Tax
Income Tax
Mere difference in Balance Sheet of Assessee & Creditor cannot be treated as cessation of liability
Income Tax
Income Tax
No addition u/s 41(1) in absence of Evidence of Remission or Cessation of Liability
Income Tax
Income Tax
Sundry creditors cannot be treated as bogus on mere personal belief & imagination of AO
Income Tax
Income Tax
Section 41(1) addition not justified for loan creditors
Income Tax
Income Tax
Waiver of loan amounts to cessation of liability other than trading liability
Income Tax
Income Tax
Liability to deduct section 194R TDS on Benefit or Perquisite in Business or Profession
Income Tax
Income Tax
No Section 41 Disallowance if no Cogent Evidence of Cessation of Liability
Income Tax
Income Tax
No section 41(1) addition if liability not stood remitted or ceased
Income Tax
Income Tax
Mere outstanding for long time not amounts to cessation of liability
Income Tax
Income Tax
Remission/cessation of liability by BIFR cannot be taxed under Income Tax Act
Income Tax
Income Tax
AO cannot treat trading liabilities as unproved on presumptions
Income Tax
Income Tax
Impact of Waiver of Loan or Liability on Depreciation Claim
Income Tax
Income Tax
