Section 41(1) Still Applies: Business Loses Section 80P Benefits Due to Legal Changes in Income Tax Act.

Addition u/s 41 - Where the assessee continues to carry on the same business but in the later years, it is not eligible for section 80P due to amendment in the law as has happened in the instant case, it cannot be held that the provisions of section 41(1) are not applicable. - AT .....

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