#Section 41
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162 articlesIncome Tax
Income Tax
Analysis of Section 41(1) of Income Tax Act, 1961
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Income Tax
Section 41 addition cannot be made on basis of unsigned balance sheets
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Income Tax
No Addition u/s 41(1) Merely Because Liability Outstanding for Long Period
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Income Tax
Loan waiver never claimed as expenditure cannot be taxed u/s 41(1)
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Income Tax
Surplus from assignment of loan to third party was not cessation or extinguishment of liability u/s 41(1).
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Income Tax
Taxability of loan waivers under Section 28(iv) and Section 41(1)
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Income Tax
Merely because a debt has not been repaid for over three years, would not automatically imply cessation of liability
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Income Tax
Unclaimed creditors to be added to Income u/s 41, even if the same is not written back in Income statement
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Income Tax
Tax cannot be levied on Loan Waived under one time settlement
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Income Tax
Can AO invoke section 41(1) merely because liability is long outstanding
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Income Tax
Sec. 41(1) addition cannot be made for liabilities that had not ceased
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Income Tax
No cessation of trading liability for mere non-submission of confirmation from creditors
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Income Tax
Gain on settlement of sales tax deferred liability not taxable
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Income Tax
